Saturday, August 2, 2008

Workers’ Comp for the Self-Employed?

What protections and insurance coverage are available to self-employed people who are injured on the job?

Karen E. Klein, who writes for Business Week, tackles that complicated subject in her Smart Answers column. The short answer is that workers’ compensation insurance is typically not available to sole proprietors and even if it were, most would find it too costly. A health or disability insurance policy, when written the right way, can provide protection for self-employed people who are injured at work.

    A self-employed person is more likely to find coverage for serious injuries by purchasing an individual insurance plan (BusinessWeek.com, 5/16/07) that includes both medical and disability insurance. However, there are a couple of wrinkles your members could face trying to get disability insurance.

    One is that both disability insurance and health insurance normally exclude work-related injuries and illnesses under the assumption those problems will be covered by workers' comp. "If a self-employed person was using this coverage for work injuries and illnesses, that exclusion would need to be removed, which will increase their cost," Klein says.

1 comment:

Layne Adams said...

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