Louisiana small businesses are generally required to carry workers’ compensation insurance.
Unlike other small business policies, workers’ compensation is regulated at the state level, so rates and coverage requirements also differ from state to state. Almost universal, however, is that employers are legally required to carry workers’ compensation insurance that covers all employees on their payroll.
Below we cover what Louisiana small business owners need to know about workers’ compensation.
Businesses with one or more employees working in Louisiana must carry a workers’ compensation insurance policy. This includes may be full-time, part-time, seasonal workers and minors.
Some exceptions include:
An expert in workers’ compensation insurance can help you determine which employees can choose to exclude themselves, and help you comply with your state’s laws.
Louisiana has a private market. Employers can purchase workers' compensation insurance from any insurance carrier or agency that is licensed to write in that state.
If you’re still having trouble, you can contact the Louisiana Workforce Commission, which will help you find coverage.
A Louisiana small business workers’ compensation policy will vary in cost based on payroll, industry and claims history. A work comp policy protects both employee and employer from risk when a worker is injured on the job. This means that the cost is going to be dictated by the size of your workforce and the type of work employees do.
Louisiana is one of the safest states for workers, with some of the lowest rates of workplace injuries nationwide. Still, costs remain high compared to other states and has some of the highest work comp costs per claim. Critics point to high medical costs and a complex system as possible culprits.
Rates have declined over the past decade, just not at the same rate as other states.
Contact the Louisiana Workforce Commission for information on controlling worker health and safety. Companies that participate in the commission’s educational programs may be able to reduce their workers’ compensation premiums.
Editor’s note: Last updated September 24, 2018