This article is about Justworks PEO. What product am I using?
Workers' Compensation Insurance
Workers’ compensation insurance (commonly known as workers’ comp) is provided to employees whose injuries or illness arise out of his employment. In addition, an employee's beneficiaries may also receive benefits if death results from an on-the-job activity.
You can read more about workers' comp here.
Helpful to know: workers’ comp is issued for a company, not a person
Even if your business has only unpaid owners and partners but no employees, your business may be required to have workers’ comp. You should consult your attorney or insurance broker for how this affects you and your business.
EPLI coverage is included with your Justworks plan
Employment Practices Liability Insurance (EPLI) generally covers your business against most allegations of discrimination, wrongful termination and sexual harassment of employees.
If you'd like to remain on your current EPLI plan when you join Justworks, you can do so. That coverage would be considered your 'primary' coverage.
Justworks includes New York statutory disability insurance (SDI)
In New York state, a separate SDI plan is required for each employer. This insurance coverage is included with your Justworks plan.
If you’re using Justworks, you don’t need separate policies
Workers’ comp, statutory disability and EPLI coverage is automatically included with your Justworks Plan. You can work with your insurance broker to cancel the appropriate policies.
If you stop using Justworks, you must secure separate insurance immediately
Justworks includes the insurance required to keep your business compliant: Workers’ comp, statutory disability (in applicable states) and EPLI. If you terminate your Justworks plan but continue to have employees, you must obtain this insurance separately in order to remain compliant. Your insurance broker can help you with this process.
Failure to maintain these policies may result in fines or penalties.
View compliance coverage from your Justworks account
Compliance coverage includes W2/1099, I9, new hire reporting, payroll tax filing, unemployment insurance, statutory disability, workers' comp, and EPLI. Here is how it will look, in your Justworks account:
Disclaimer
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.