Workers' Compensation
Create a safer workplace by providing workers' compensation.
A workplace injury impacts both the injured employee and the business, but a properly configured plan helps protect your employees and your bottom line. When your workers are protected, your business is protected.
How Does Workers' Compensation Help?
- Employees feel supported when claims are resolved fairly and efficiently.
- Workers' compensation reduces medical costs for employees and employers.
- Gives peace of mind with protection for lost wages and medical expenses.
- Injured workers are supported by services during recovery and return to work.
- It's an affordable safety net.
The heroes at Texell Insurance are ready to get your business — and your employees — covered.
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Frequently Asked Questions:
HOW MUCH DOES WORKER'S COMPENSATION COST?
Estimated employer rates for Texas workers' compensation are $0.55 per $100 in covered payroll. Your cost is based on several factors, including:
- Payroll
- Location
- Number of employees
- Industry and risk factors
- Coverage limits
- Claims history
DOES MY BUSINESS NEED WORKER'S COMPENSATION?
Texas does not mandate this for all businesses, but workers' compensation is required for certain industries. Requirements for coverage include:
- Any public employer, including cities, counties, and state agencies
- Companies that contract with government entities
- State universities
- Building and construction contractors for public employers
- Motorbus companies
- Motor carriers (providing transportation over public highways)
- Liquid propane gas and compressed natural gas dealers
- Employers of inmates in work furlough programs
Even if workers' compensation insurance is not required, it's still a good idea to consider. If an employee is injured on the job, the employer could be held liable to pay for expenses associated with medical treatment, ongoing therapy, and lost wages.
DO SOLE PROPRIETORS NEED WORKERS' COMPENSATION?
Sole proprietors and the self-employed can elect to buy workers' comp coverage for themselves and may be especially smart if you do physical labor or work in a high-risk industry. Personal health insurance may deny a claim related to your work, leaving you uninsured.
Your health insurance company might deny a claim for an injury related to your work, which could leave you responsible for costly medical bills.
Workers' comp also provides partial lost wages while recovering from a job-related injury, which could be a hero for your finances.
Texell Financial, LLC is a wholly-owned subsidiary of Texell Credit Union and does business as Texell Insurance. Insurance products are not issued, guaranteed, underwritten, or insured by Texell Credit Union or the National Credit Union Administration.
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