Complete Labor Law Poster for $24.95
from www.LaborLawCenter.com, includes
State, Federal, & OSHA posting requirements

Announcement

Collapse
No announcement yet.

Workers comp requirements New Jersey

Collapse
This topic is closed.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Workers comp requirements New Jersey

    I run a single-member LLC in New Jersey, and as of right now I have no employees. I am hiring my wife part-time to do the bookkeeping end of things,
    as she is in school much of the time.

    I am aware that wife or not, I am still required to maintain workers' comp, because she is not a member of the LLC. I am also putting her on the payroll as a W-2 employee, because quite frankly the work needed to get her as a member and then the subsequent tax requirements are too much.

    Anyway, as for my point, today I obtained a workers' comp policy, but I wanted to double check and see what the minimum coverage requirements are in NJ. I am sure that the company would not sell me a policy that didn't conform to NJ standards, but it never hurts to double check.

    Thanks in advance.
    I am Michael Crook, the founder, president, unquestioned ruler, and pseudo-HR guy of Nightshadow Productions, LLC, my own 1-25 employee company. I am no expert on matters HR and employment, which is why I'm here.

  • #2
    WC info for NJ is here http://lwd.dol.state.nj.us/labor/for...SI_contact.pdf

    The premiums for WC coverage are usually based on the classification of the employee, and the wages per $100.
    Until you have a history with the carrier, or payroll/wage history to determine the approriate rate for coverage, you'll have to rely upon what the insurance rep/broker provided.
    There would be no way for a responder on a message board to tell whether or not the rate you have been quoted is adequate... over/under. There is no average.

    Once you have that history, and are audited, your premium will be adjusted. There would also be a claims history to take into consideration.

    Comment


    • #3
      Originally posted by CAIW View Post
      WC info for NJ is here http://lwd.dol.state.nj.us/labor/for...SI_contact.pdf

      The premiums for WC coverage are usually based on the classification of the employee, and the wages per $100.
      Until you have a history with the carrier, or payroll/wage history to determine the approriate rate for coverage, you'll have to rely upon what the insurance rep/broker provided.
      There would be no way for a responder on a message board to tell whether or not the rate you have been quoted is adequate... over/under. There is no average.

      Once you have that history, and are audited, your premium will be adjusted. There would also be a claims history to take into consideration.
      I'm sorry..I didn't clarify, I was talking about the levels of coverage, specifically:

      Bodily Injury By Accident $ 100,000 Each Accident
      Bodily Injury By Disease $ 500,000 Policy Limit
      Bodily Injury By Disease $ 100,000 Each Employee


      I guess I'm thinking of car insurance..I don't want to have $10,000 of coverage when I need $15K. I'm sure everything is on the up and up..I'm just asking for my own peace of mind.
      I am Michael Crook, the founder, president, unquestioned ruler, and pseudo-HR guy of Nightshadow Productions, LLC, my own 1-25 employee company. I am no expert on matters HR and employment, which is why I'm here.

      Comment

      The LaborLawTalk.com forum is intended for informational use only and should not be relied upon and is not a substitute for legal advice. The information contained on LaborLawTalk.com are opinions and suggestions of members and is not a representation of the opinions of LaborLawTalk.com. LaborLawTalk.com does not warrant or vouch for the accuracy, completeness or usefulness of any postings or the qualifications of any person responding. Please consult a legal expert or seek the services of an attorney in your area for more accuracy on your specific situation.
      Working...
      X