Louisiana workers compensation insurance protects companies and employees from job injuries. This comprehensive coverage protects employees and helps firms follow state regulations. Louisiana workers compensation insurance promotes employee well-being, mitigates financial risks for businesses, and fosters workplace safety. Discover the various coverage options, regulatory requirements, and best practices for safeguarding your employees. Workers comp insurance Louisiana can boost productivity, morale, and business performance.
Workers' compensation insurance protects both employees and employers if a worker is injured or becomes unwell on the job. By law, all employers must hold workers' compensation insurance. Louisiana workers compensation insurance covers medical treatment, rehabilitation, and wage replacement for employees recovering from work-related injuries or ailments.
This insurance protects businesses from workplace injury lawsuits and helps employees recover with medical and financial aid. By providing workers' compensation insurance, firms can avoid costly legal fights and ensure their employees receive prompt care.
Employers with an annual payroll of at least $3,000 and one or more full-time or part-time employees are required by Louisiana workers compensation laws to carry workers' compensation insurance. Businesses with the financial means to do so can either purchase their own insurance or join the State Insurance Fund. Employers have the option of purchasing workers' compensation from private insurers, self-insuring through the State Insurance Fund, or joining a board-approved group self-insured plan. By following Louisiana workers comp rules, employees and companies are protected from work-related injuries and diseases.
Workmans comp louisiana insurance can benefit home-based workers. Workers' compensation is available to employees working from home, freelancers, independent contractors, and small business owners. In the event of an accident or overwork, remote workers may be entitled to workers' compensation. The person would be responsible for medical bills and missed pay without this coverage. Thus, home-based professionals can feel secure and confident with workers' compensation insurance.
The Louisiana_Workforce_Commission (LWC) is the state agency in Louisiana responsible for workers' compensation. The commission uses state, federal, and private funds to provide training, job aid, regulatory services, and other services to promote occupational safety and employment in the state. The LWC coordinates job training, placement, and career information to enhance work prospects. In addition, the Louisiana workers compensation commission is committed to preserving the integrity of the Unemployment Benefits and Workers' Compensation systems through its regulatory services. As the authorized agency, the Louisiana Workforce Commission is critical in establishing a favorable climate for businesses, employees, and job searchers while upholding the Louisiana workers comp laws.
The Louisiana Workforce Commission's Workforce Support and Training department works with employers, employees, and government agencies to minimize unemployment. It offers regulatory, aid, and training services to produce a skilled labor force and keep a manageable and equitable workers' compensation system.
They prioritize high-quality, relevant training programs, flexible funding initiatives, and operations that are streamlined through integration and technology. In addition to increasing public understanding and acceptance of LWC initiatives and promoting the LWC as a source of employment information, one of their objectives is to encourage employer participation. In addition, they want to maintain a financially stable workers' compensation program, monitor medical reimbursement, promote workplace safety, and ensure that reemployed injured workers are promptly compensated.
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Some Louisiana businesses may not be required to carry workers' compensation insurance. Typically, these exemptions apply to businesses that employ only family members or none. To protect against future claims, sole proprietorship and partnerships should still purchase a ghost policy that provides minimal coverage. Understanding the exemptions and significance of a ghost policy may help Louisiana businesses negotiate their workers' compensation insurance requirements. The following companies are exempt from obtaining workers' compensation insurance in Louisiana:
Musicians and performers under performance contracts: Since Louisiana is an entertainment center, musicians and artists under performance contracts are excluded from workers' compensation insurance
Employees of private homeowners and unincorporated properties
Aircraft crew members engaged in dusting or sprinkling operations
Officers and participants of nonprofit organizations who are uncompensated
The Jones Act, the Longshoremen's and Harbor Workers' Compensation Act, or the Federal Employer's Liability Act cover workers who are protected by these laws
Licensed real estate agents or brokers
Landmen providing services associated with the exploration, development, production, or transportation of minerals
Employers engaged in interstate or international commerce by railroad who serve as common carriers
The severity of the injury, the employee's typical weekly earnings, and the degree of disability determine payouts under Louisiana workers compensation guidelines when filing a claim. The criteria ensure that injured workers receive fair and reasonable compensation for medical bills, lost pay, and rehabilitation.
Temporary Total Disability Benefits: If a work-related sickness or accident prohibits you from working, Louisiana may offer temporary total disability (TTD) compensation. Disability benefits are not paid for the first week.Subject to a maximum and minimum, two-thirds of your weekly wage at the time of injury.The pay ranges from 20% to 75% of the state's average weekly income. TTD payments range from $188 to $705 per week for injuries occurring between September 1, 2020 and August 31, 2021. TTD compensation will be paid until medical professionals determine that your disability is permanent.
Permanent Partial Disability Benefits: Those who are permanently disabled yet able to work may be eligible for permanent partial disability (PPD) compensation. Louisiana uses two methods to calculate how long these payments will last and how much money you will receive.
Temporary Total Disability Benefits: Regardless of your education, training, or other credentials, you must demonstrate in Louisiana that you are physically unable to work, including self-employment. If you meet this restricted requirement, you will be entitled for weekly payments at your TTD rate for the duration of your impairment.
Supplemental Earnings Benefits: Louisiana may provide additional earnings compensation if your injury stops you from earning 90% of your pre-injury income. Two-thirds of your prior wages minus your current earning potential in any area determines these benefits. If you made $3,000 per month before your accident but now make $1,800, you would receive $800 per month, or two-thirds of $1,200.Supplemental Earnings Benefits can last up to 520 weeks.
Medical Benefits: Your company must cover all workplace injury medical costs without copayments or deductibles. Medical travel expenditures may be paid as well.
Death Benefits: If a worker dies within two years of obtaining medical care for a work-related injury, his or her dependents are entitled to burial benefits in Louisiana. Typically, a percentage of the dead employee's pre-injury compensation is reimbursed regularly. If the dead employee has no legal dependents, the biological and adopted children will receive a lump sum of $75,000 to cover burial expenses. Louisiana provides proper funeral coverage up to $8,500.
Catastrophic Injury Benefits: Louisiana provides a one-time payout of $50,000 for catastrophic industrial injuries, such as third-degree burns covering at least 40% of the body, quadriplegia, paraplegia, or the loss of two extremities or both eyes, in addition to other benefits.
The Louisiana workers compensation waiting period is a fundamental component of the state's system. In Louisiana, injured workers must be out of work for seven days before receiving salary benefits. The employee receives wage compensation for the first seven days of a 14-day disability. The initial payment of these wage benefits is scheduled to begin on the fourteenth day after knowledge or proof of disability. The injured worker receives weekly salary compensation. These weekly wage benefits are 66 2/3 percent of the employee's average weekly wage and are tax-free. However, it is essential to note that these wage benefits have a maximum rate, which is currently set at $605.
Employers who fail to comply with Louisiana workers compensation requirements may face penalties. Fines for first offenses are $250; fines for subsequent offenses are $10,000. Workers who deliberately lack insurance may spend a year in prison. These fines emphasize the importance of adhering to Louisiana's workers' compensation regulations, which ensure that employers fulfill their obligation to provide adequate coverage for employees who sustain work-related injuries or ailments.
Workers compensation insurance in Louisiana is $83 per month or $996 per year. This cost estimate assumes that you’re a general contractor in the state. The table below provides a more solid foundation of Louisiana worker's compensation rates by showing how much the best companies charge small businesses:
|Cost Per Month||Cost Per year||Best for|
|NEXT||$36||$432||Best overall; Fastest workers compensation insurance|
|Hiscox||$41||$492||Businesses that value customized workers' compensation insurance|
|Thimble||$53||$636||On-demand insurance coverage for businesses|
|CoverWallet||$78||$936||Comparing workers compensation insurance quotes online|
|The Hartford||$88||$1,056||Workers compensation insurance with numerous benefits|
|Tivly||$103||$1,236||Comparing workers compensation insurance quotes over the phone|
Here are some factors affecting the cost of workers compensation insurance in Louisiana:
Claim history of the business: If your organization has a history of frequent or costly claims, your rates may be higher. Insurance prices may be reduced with a good claims history.
Work types performed by employees: Premiums may be higher in industries with more inherent dangers and worker injuries. Dangerous or strenuous jobs may require more covering, raising costs.
Total annual payroll: The entire annual payroll of a corporation affects its workers' compensation insurance premiums. Insurance coverage is based on employee remuneration, therefore higher payroll levels usually mean higher premiums.
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Businesses in Louisiana have several dependable workers' compensation insurance providers to choose from. The workers compensation insurance companies in Louisiana below offer comprehensive coverage and personalized solutions to fit the state's employers' needs.
These companies offer reliable insurance and fast claims processing to safeguard employees and reduce workplace risks. Businesses may ensure they have the proper coverage, handle the intricacies of workers' compensation, and prioritize staff safety and well-being by collaborating with one of these premier Louisiana workers compensation insurance carriers.
Flexibility: You can tailor your coverage and change or cancel it at any time
Convenience: Submit a claim, change your plan, or contact support using your phone or computer
Affordability: Bundling and/or paying annually can help you save money and earn additional discounts on most plans
Offer policies that are tailored to industry type and requirement
Apply for coverage in as little as ten minutes
Claims may take some time to resolve if there is significant damage to cover
NEXT Insurance provides workers' compensation insurance to the state of Louisiana. Their Insurance delivers fast and effective services to state agencies. Their cutting-edge technology and customer-centric approach make claims processing and personalised help a breeze. Businesses in Louisiana can turn to NEXT Insurance for workplace accident protection and risk management.
Best for: Best overall; Fastest workers compensation insurance
Average cost: $36 per month
Our rating: 10/10
More than 50,000 customer ratings and a great overall ranking
A quick online quotation generator that can generate pricing data in under 10 minutes
Over two centuries of experience as a trustworthy insurance provide
Outstanding client service
In certain regions, coverage is limited
The Hartford is a well-known Louisiana insurance provider specializing in workers' compensation insurance. Because of its substantial presence in the state, The Hartford has earned a reputation as a reliable and trustworthy partner for businesses looking for complete protection. They can give customized solutions to the specific demands of businesses operating in the state due to their in-depth understanding of Louisiana's regulatory environment and industry-specific difficulties.
Best for: Workers compensation insurance with numerous benefits
Average cost: $88 per month
Our rating: 10/10
Simple quotation process
Real-time analytics to enhance customer satisfaction
Shops over 200 partners for quotes.
Expedited online quote generator
There is no live chat
Tivly supports Louisiana small companies in finding the best insurance carrier for their needs. Tivly ensures tailored and uncomplicated connections with pre-qualified carriers through a detailed intake approach and consumer profiling.
Louisiana firms can purchase workers' compensation insurance through Tivly's online commercial insurance marketplace. Tivly makes it simple for Louisiana business owners to compare workers' compensation insurance companies. Call now and talk with a representative to compare workers compensation insurance quotes over the phone.
Best for: Comparing workers compensation insurance quotes over the phone
Average cost: $103 per month
Our rating: 10/10
They insure over one hundred categories of small businesses
You can obtain an insurance certificate promptly.
Can provide a quotation in thirty seconds.
Customer service is only offered online.
Thimble is a recognized insurance company that provides complete workers' compensation insurance in Louisiana. Thimble, as a top provider, understands the unique demands of businesses in the state and provides solutions that are designed to meet those needs. Thimble's revolutionary platform simplifies the insurance process, allowing business owners to personalize their coverage and receive workers' compensation insurance quickly and easily.
Best for: On-demand Insurance coverage for businesses
Average cost: $53 per month
Our rating: 9/10
Customizable policies and coverages for enterprises of all sizes.
Emphasis on effective consumer representation and prompt service
Outstanding evaluations of customer service
You may not be able to purchase all the necessary coverage directly from Hiscox.
In Louisiana, Hiscox is a respected provider of workers' compensation insurance. Based on their expertise and experience, Hiscox tailors solutions to the needs of state-owned companies. Businesses in Louisiana benefit from specialist assistance ranging from policy selection to claims administration due to their exceptional customer service. Hiscox's trustworthy coverage protects firms and employees from workplace accidents and injuries.
Best for: Businesses that value customized workers' compensation insurance
Average cost: $41 per month
Our rating: 8/10
Lonnie Bell Insuranker
Policy Type: Business Insurance
Company name: Employers Insurance
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
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As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!