For most businesses In the state of Missouri, the law is that you are required to carry workers’ compensation insurance if you have five or more employees.
Employees who are full-time, part-time, seasonal, temporary or family members are all included in the overall employee count. If you are an officer in a corporation or a member of a limited liability company (LLC), you also count as an employee.
If you’re in the construction industry, then you must carry workers’ compensation insurance if you have one or more employees.
Employers that don’t have the required number of employees or who have employees in exempt categories may choose to decline coverage. However, exempt business owners who decide not to purchase workers’ comp insurance in Missouri or to self-insure remain exposed to civil lawsuits brought by employees who are injured during work.
While not always mandatory, all businesses can benefit from the important financial protection workers’ compensation insurance provides to both owners and employees.
If one of your employees ends up hurt or sick while at work, your Missouri workers’ compensation policy can help cover payments for:
If an employee is injured at work, they must report their injury within 30 days or they risk receiving benefits.
If approved, the claim is processed and the injured employee receives benefits.
Workers’ comp benefits in Missouri include:
There is a three-business-day waiting period when compensation is not paid if they’re unable to work. But if a worker remains unable to work for more than 14 days then the three-day waiting period will be paid. Disability payments and medical bills are paid by your workers’ compensation insurance. Workers’ compensation benefits are tax-free for employees in the state.
If an employee dies on the job, Missouri workers’ compensation laws allow the dependents, usually a surviving spouse or dependent children, to collect a death benefit that is 66 2/3% of the average weekly wage that was paid in the year immediately preceding their death. This amount is potentially subject to a maximum set by the state.
Employers, or their insurer, must also cover up to $5,000 in funeral expenses.
In Missouri, exact workers’ compensation rates can vary by both industry and profession. Even within your business, you might have employees who are classified within different risk levels. The state determines the specifics of rates based on a couple of different factors:
Workers’ compensation costs vary across industries. Factors that influence price include:
Get a free instant quote in about 10 minutes from NEXT to see your workers’ comp insurance costs.
According to Missouri state law, an employee may request an exception from workers’ compensation if they’re members of a recognized religious sect or division that are conscientiously opposed to accepting public or private insurance benefits.
Other exemptions include:
NEXT strives to resolve every claim quickly. Learn more about our claims process and how our claims advocates will work with you after an employee injury.
General liability insurance protects your business from common mistakes or accidents, such as customer injury or damages to someone’s property.
If you or your employees drive vehicles for work, Missouri requires your business to carry commercial auto insurance. This provides coverage for accident-related expenses in a business-owned vehicle or a personal vehicle being used for work purposes.
Commercial property insurance can provide financial help if your business structures, goods, gear or inventory are damaged or destroyed by a covered event.
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