Source of this page
This regulation detail page is rendered from the SMBRegs static catalog, not a live government database record. Use the official filing link below to verify current requirements before filing or relying on this summary.
Description
While mostly regulated at the state level, businesses with federal contracts or those in certain industries must carry workers compensation insurance. This covers medical costs and lost wages for employees injured on the job.
Key Details
- Jurisdiction
- Federal
- Category
- Insurance
- Renewal Frequency
- annual
- Estimated Cost
- $0.75 to $2.74 per $100 of payroll (varies by industry)
- Estimated Time
- 1-2 hours to set up
Penalties for Non-Compliance
Varies by state; typically $100 per day of non-compliance plus liability for injuries
Who This Applies To
Minimum Employees: 1+
Official Filing Link
https://www.dol.gov/general/topic/workcompDoes this apply to your business?
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