Manage HR Magazine | Monday, June 21, 2021
The gig economy includes independent contractors, freelance writers, building contractors, Uber drivers, and consultants. Is workers' compensation available for these occupations? The majority of the time, they are not.
Fremont, CA : Workers' compensation will be impacted as organizations continue to embrace a "digital first" approach. Workers' compensation rates and policies are anticipated to change in the next years, from safer work environments to the growing usage of telehealth.
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Common workers' comp industry trends in 2021
Safer Work Environment
Businesses have been working harder to improve their risk management policies in order to maintain a safe workplace. This has reduced the likelihood of their staff being injured on the job. It has also lowered the number of workers' compensation claims filed as a result of workplace accidents. Fixing safety hazards in the workplace can help you save money in the long term by lowering your workers' compensation premium.
COVID-19
The policies governing workers' compensation in each state differ. However, many state workers' compensation insurance cover only "occupational illnesses" caused by employment and exclude "ordinary ailments" such as the flu. COVID-19 has created a new situation in which previously considered dangerous jobs are now considered risky. This means that COVID-19 compensation will be determined by your policy, state, and business.
A Flourishing Gig Economy
The gig economy includes independent contractors, freelance writers, building contractors, Uber drivers, and consultants. Is workers' compensation available for these occupations? The majority of the time, they are not. And the number of Americans resorting to the gig economy has grown in recent years. Between 2010 and 2019, the proportion of gig workers climbed from 14 percent to 16 percent. 1 This will most likely reduce payroll in the workers' compensation system over time.
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