Worker’s Comp key components:

• Medical expense coverage: Covers the full cost of necessary medical treatment related to a work injury or illness, including hospital visits, surgery, prescription medications, physical therapy, and ongoing care.
• Wage replacement (disability benefits): Provides partial income to employees who are unable to work because of a job-related injury.
  • Temporary Total Disability (TTD): For employees who can’t work at all for a limited period.
  • Temporary Partial Disability (TPD): For employees who can work in a limited capacity while recovering.
  • Permanent Total Disability (PTD): For employees permanently unable to return to any kind of work.
  • Permanent Partial Disability (PPD): For permanent impairments that don’t completely prevent work.
• Rehabilitation benefits: Covers costs related to physical rehabilitation and, if needed, vocational training to help the injured employee return to work.
• Death benefits: Provides financial support to the family or dependents of a worker who dies because of a job-related incident. This typically includes funeral expenses and ongoing survivor benefits (usually a percentage of the deceased worker’s wages).
• Employer liability coverage: Protects the employer against lawsuits filed by employees (or their families) alleging negligence. Although workers’ comp typically prevents employees from suing, employer liability covers exceptions not barred by law.
• Legal fees: If a claim is disputed or leads to legal action, the policy often includes coverage for defense costs and settlements.

Why It Matters

Unexpected events—like illness, accidents, cyberattacks, or legal disputes—can quickly derail a small business. Insurance acts as a financial safety net, helping you recover and continue operations. More importantly, it shows customers, employees, and stakeholders that you take your responsibilities seriously.

Insurance isn’t just a cost. It’s an investment in your business’s stability and future success.

Dr. Maurer has served as a physician partner with Emergency Medicine Specialists since 2011 and is a leader in a variety of organized medicine entities at the state and national level; she currently works as the CEO of ConsensioHealth RCM.

Dr. Hoper is an emergency physician partner and leader at East Central Iowa Acute Care (ECIAC), an independent democratic group that staffs emergency departments in Eastern Iowa. She is the chair elect of the Emergency Medicine Business Coalition (EMBC).