New Massachusetts Workers Compensation OptionsEffective October 23, 2002, Massachusetts sole proprietors and partners could choose TO be covered by Workers Compensation. Officers and Directors of Massachusetts corporations could choose NOT to be covered by Workers Compensation. You make the choice by filing a form with the Department of Industrial Accidents. If you make this choice, your Workers Compensation premiums will change, as will your eligibility for benefits. Being covered by Workers Compensation is relatively cheap and often beneficial. However, corporate officers, especially those with multiple jobs and a very low risk of workplace injury might decide that the premium savings is worth any increased risk. Your insurance agent should be able to tell you more about these choices and their effect on your business.
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John Schachter + Associates, Inc.
Last revised: 11/10/04 |