FAQ for Employers
In managing your company’s occupational health services requirements, it’s important to learn more on the most important topics within the industry. Here, we answer some of the more challenging questions our clients face relating to workers’ compensation.
FAQ for Employers
Can My Business be Self-Insured for Workers’ Compensation?
Within the state of Colorado, employers that meet strict control standards can use self-insurance to mitigate workers’ compensation risks. The company must employ over 300 people to be eligible for self-insurance. The permit for self-insurance can be obtained through the Division of Workers’ Compensation.
Are All Employers Required to Carry Workers’ Compensation Insurance?
In the State of Colorado, only those employing agricultural workers, employers of domestic workers, real estate brokers, sole proprietors, and partners are exempt from workers’ compensation requirements. All other companies must have some form of workers’ compensation insurance policy.
Can Another Policy be Used as a Replacement for Workers’ Compensation?
Regardless of whether the company has a 24-hour medical coverage policy with wage replacement or another form of protection for workers, they must have a workers’ compensation policy covering their employees. Workers’ compensation policies provide a higher level of protection to the business and the employee and can help safeguard against a range of coverage challenges.
How do I Obtain Workers’ Compensation Insurance?
Workers’ compensation insurance can be purchased through any private insurance company that is legally qualified to conduct business in the State of Colorado. Contact Monument Occupation Medicine for more details.
What are the Employer’s Responsibilities within Workers’ Compensation?
Posting: all employers are required to post in high-visibility areas written notices that they comply with the workers’ compensation guidelines. The notices should name the company’s insurance carrier, the carrier’s phone number and the instructions on how to make a claim.
Reporting: Workers have up to 4 days to file a report on an injury or work-related illness. Once this report has been filed, the employer then has 7-10 days to file the Employer’s First Report of Injury or Illness with their Labor Commission, then submit a copy of that report to their workers’ compensation insurance carrier as well as provide a copy to the affected worker.
Does the Employer Hold Responsibility for Reporting an Injury that Doesn’t Require First Aid?
The employer must file a report for any employee that has been treated by a physician regardless of the severity of the injury. Once the worker has been treated, the doctor is then responsible for filing a physician’s report.
To learn more on your rights and responsibilities as an employer, please contact our office team today at 719-445-9852.