Does a large deductible workers comp program make sense for me?

Workers’ compensation programs are designed to provide medical care and financial support to employees who are injured on the job or who develop work-related illnesses. Large deductible workers’ compensation programs can be an effective way for employers to manage their workers’ compensation costs, but they may not be suitable for all businesses or all employees.

Large deductible workers’ compensation programs allow employers to pay a higher deductible in exchange for a lower premium. This can be beneficial for employers who have a good safety record and who do not expect to have many claims. However, if an employer experiences a large number of claims, the higher deductible could end up being more expensive than a traditional workers’ compensation policy.

It’s important for employers to carefully consider their needs and the risks involved before deciding whether a large deductible workers’ compensation program is the right choice for their business. Employers should also make sure that their employees are aware of the terms of the program and understand how it works, so that they can make informed decisions about their own coverage.