Frequently Asked Questions About Oregon Workers’ Comp
When you run a business with employees, having to worry about a work injury is inevitable. This is why some jobs such as service gas lining or installing natural gas appliances require training before you can be certified to do them. Employment can be dangerous. This is why workers compensation coverage is there for you. It is valuable coverage that gives an employee the benefits that they need should they suffer any work-related injuries. If you live in Oregon and want to find out what the frequently asked questions about workers compensation are, keep on reading.
1. How does workers compensation work in Oregon?
In Oregon, workers compensation is a mandatory three-way workers’ insurance system. Employees can obtain their coverage from a SAIF Corporation, private insurers, or opt for self-insurance. The workers’ compensation system is aggressively regulated as with any other state. If you have any litigation disputes, the regulatory bodies that become involved are the Department of Consumer and Business Services, the Worker’s Compensation Board, and the courts.
2. Is workers compensation a requirement in Oregon?
This type of coverage is recognized by legislation. Employers, unless exempt, must carry this coverage. It helps you as an employee to recover financially and physically from any work-related injuries. For instance, if your injury is covered, you should receive your temporary disability payment within 14 days after your employer is aware of the injury and medical evidence that you cannot meet your employment obligations.
Not being required to carry workers compensation does not exempt you from paying for a claim that may ensue. This means that the costs will be out-of-pocket. Should you wish to find out more about the requirements and exemptions in detail, you should visit the Compensation Division’s website.
3. What compensation laws should I know?
If your employer does not have any workers’ compensation coverage, you are allowed to sue them. If you own a business, and you do not have this coverage, you will be liable for penalties. These penalties can be double the amount of your premiums. Failure to provide coverage will increase the penalty by $250 for each day that you do not comply.
A permanent court injunction can be imposed on a business that refuses to comply after multiple attempts by the regulatory authority. If you have a huge debt due to workers compensation coverage claims, you cannot use bankruptcy to ask for any pardon on your debt or a portion thereof.
4. How much is workers compensation in Oregon?
Did you know that Oregon has the lowest workers’ compensation rates in the country? There are different factors that can affect the price of your coverage. For instance, the type of business that you own can affect how much you pay. Other factors that can affect the price include credits and taxes. The standard formula to calculate how much your business should pay is multiplying your business classification rate by your projected payroll for the next 12 months. Thereafter, you should divide the sum by 100.
5. How can I get workers compensation in Oregon?
Finding a well-priced workers’ compensation plan in Oregon should be easy. There are many insurance companies that sell this type of coverage. But, if you cannot find insurance through private insurers, you can get your coverage through a risk plan. The National Council on Compensation Insurance administers how businesses are assigned insurance.
You would be surprised to find that approximately 80 million Americans, that’s about 28% of people that are aged six and older are physically inactive. The dangers of physical inactivity are many, and studies suggest that employees who are not used to physical activity are more prone to work injuries.
If you are having trouble finding appropriate workers’ compensation coverage for your business, you should contact a reliable agent. This should help you find an affordable insurance plan that has several benefits. Nowadays, it is simple to secure an affordable plan that provides adequate protection.