Missouri requires employers with five or more employees to carry Workers' Compensation coverage. Additionally, construction businesses are required to carry Workers' Compensation coverage if they have one or more employees.
In Missouri, sole proprietors and partners are not required to carry Workers' Compensation coverage but may choose to cover themselves as an employee if they prefer. Missouri also provides exemptions for commercial motor carrier owner-operators, farm laborers, domestic servants, and real estate agents.
Missouri requires employers to post a notice in a conspicuous common area that details the benefits available through Workers' Compensation coverage and outlines the steps to take if an injury occurs. The insurer is responsible for filing a Report of Injury with the Missouri Division of Workers’ Compensation.
Missouri treats the failure to provide required Workers’ Compensation coverage as a Class A misdemeanor and can impose a penalty equal to 3 times the annual premium you should have paid, with a maximum penalty of $50,000. Non-compliant employers are also liable for the cost of injuries suffered by employees.
Where can I buy Workers' Compensation in Missouri?
Missouri provides a state fund for Workers' Compensation insurance, Missouri Employers Mutual Insurance, to guarantee the availability of required Workers' Compensation coverage. Most businesses should be able to source coverage in the open market through agents or brokers. Online insurance portals, such as CoverWallet, are often the most convenient way to insure your business for Workers' Compensation and other key coverages.
What if I am self-employed in Missouri? Do I need Workers' Compensation?
In most cases, Missouri employers are required to have Workers' Compensation coverage for employees if they have five or more employees. A sole proprietor is not considered to be an employee and is not required to have Workers' Compensation coverage. A sole proprietor or partner is also not counted as an employee when determining if a Missouri business is required to have coverage.
How Much Does Missouri Workers' Compensation Cost?
Missouri, along with the majority of states, uses rating data from the National Council on Compensation Insurance to help establish Workers' Compensation insurance rates based on industry risk. Other factors, such as your business's safety and claims history, as well as your payroll, are used to calculate the premiums for your Workers' Compensation coverage. CoverWallet can provide a quote.
What Does Missouri Workers' Compensation Cover?
Similar to its structure in other states, Missouri Workers' Compensation provides coverage for expenses related to work injuries or occupational illnesses. Medical expenses for injured employees are paid by the coverage and income replacement is available for lost wages at a rate of up to two-thirds of the worker's average income, subject to a maximum cap.