How does Workers' Compensation work?

Question

I just opened a Preschool. I am getting ready to hire one employee and need to know about this? Right now I don't pay anyone Workers' Compensation because it was only myself working? Thank you

Answer 1

You need to get quotes for the insurance. It is a percentage of the pay based on the classification of the employees.

There is usually a minimum premium for the year. So you might actually end up paying a higher percentage if you only have one employee.

If the employee gets hurt at work, worker comp covers it. It is required for all employees (there are few exceptions).

Answer 2

I'm guessing that if you have this question you have a lot more about running your small business. I did! These guys helped me a lot: fortnerconsulting.com. If they can't help check with your local labor department and they will assist you.