The company is set up as a partnership (father and son). Father does not draw any income from the business. Son is active "employee" general manager with an income. He has personal health insurance. The company will continue to pay his salary even if he is injured. Should he be considered in the Workers Comp policy?
2006-10-03 17:13:54 · 3 answers · asked by alan_inman 1 in Business & Finance ➔ Insurance
YES and NO .. .Workers Comp covers injured employees .. pays medical costs and partial payment of lost wages while the worker is unable to work. If the MEDICAL costs are an issue then put him on the workers comp policy, otherwise save your insurance money and leave him off. MOST businesses do NOT carry officers on the workers comp policy ...
2006-10-03 17:25:51 · answer #1 · answered by MeInUSA 5 · 0⤊ 0⤋
Absolutely. His health insurance PROBABLY has an exclusion for any injuries that happen at work, but even if it doesn't, the medical costs are the SMALL portion of what workers comp pays - it also pays LOST WAGES. If he should have a horrible accident and be in the hospital & rehab for six months, health insurance will NOT pay any lost wages! If he should be killed at work, his wife and kids won't collect a blessed dime from health insurance.
2006-10-04 09:00:57 · answer #2 · answered by Anonymous 7 · 0⤊ 0⤋
workers comp is to protect the business and any and all employees who could be hurt including yourself should be included. If you want to keep the costs down then lower the number on the policy. I would recommend incorporation to protect your personal assets and to separate yourself from any legal action that could possibly happen. Just an opinion
2006-10-04 00:19:32 · answer #3 · answered by Joseph M 2 · 0⤊ 0⤋