Add a Layer of Protection with Stop Gap Insurance

Stop Gap Insurance

Businesses large or small that employ staff have a responsibility to provide a safe working environment for employees. However, even when safety guidelines and protocols are followed, accidents and illnesses can occur and the employer may be held liable for damages. Typically, workers’ compensation policies contain coverage for employer liability, but in monopolistic states, this type of coverage is not included. Therefore, businesses need to invest in supplemental stop gap insurance to guarantee protection in the event of a claim.

When You Need To Supplement Your Coverage

Monopolistic states require employers to buy into a fund that provides workers’ compensation coverage. These states include:

  • Washington
  • Ohio
  • North Dakota
  • Wyoming

However, these state funds do not provide liability insurance for employers. To make up for this lack of coverage, stop-gap insurance should be purchased. This type of policy protects an employer against job-related accidents or injuries as well as illnesses that may have originated in the workplace. With this coverage, an employer is insured against allegations of unsafe working conditions.

Whether a business hires 10 employees or hundreds, supplemental stop gap insurance is essential if the company is in a monopolistic state that doesn’t provide employee liability coverage. Purchasing additional insurance is akin to purchasing peace of mind. Smart business owners understand that guarding against liability is critical for success and that this type of protection pays off in the long run.

Reducing Health Insurance Costs

Health Insurance

Health insurance is an essential but often costly benefit to provide to employees. Taking steps to help your workforce be healthier with primary care engagement can help reduce their healthcare needs and costs.

The Importance of Primary Care

Encouraging primary care can have a big impact on your employees’ overall health. Wellness checkups can help people stay conscientious about basic healthcare concerns such as weight and blood pressure. Moreover, it can help alert people to serious conditions early in their development when they will be easier to treat.

Time Off for Wellness Exams

Some employees may avoid making medical appointments when they’re well simply because they don’t want to take the time away from work. Reinforce the importance of wellness exams by giving everyone time off that’s specifically allocated to a wellness exam.

Helpful Reminders

Include reminders about making wellness exam appointments in company-wide mass emails or send periodic reminders in company newsletters. You could also consider addressing the topic in regular staff meetings. If you have an annual meeting to discuss benefits elections and updates, that would be a great forum to encourage primary care visits.

Ultimately, minimizing the frequency with which employees need to utilize benefits can lower the cost of premiums. In addition, facilitating better preventative healthcare will create a stronger and more productive workforce.