Proving Coverage for Freelance Workers
There is a lot of debate today concerning the contract labor pool and access to benefits. For many years, industry providers have had a narrow view of contracted work and those who are self-employed. Today’s economy has redefined self-employed ventures through the growing numbers of freelance workers. If you consistently hire individuals on a freelance or contracted basis, you should consider offering gig insurance. By having an employee benefit plan for those who work for your office but on an assignment basis, you can actually save yourself from financial liability if an employee experiences injury. Workers compensation laws deal specifically with traditional forms of employment, but for those that are paid by the job, there are coverage options your company can pursue.
Provisions of OAI
Occupational accident insurance is a coverage that generally provides the following:
Medical expenses for injuries associated with the workplace
Temporary or permanent disability
This type of coverage often costs less than traditional employee benefit plans because of the reduced risk and associated limits. Rather than a company-wide structure for coverage limits, employers are able to establish an appropriate plan for each individual employee.
Gig insurance is a solution to proving your freelance workers or assignment-based employee pool with a benefit package. This protects both your business interests and your employees.