The Firm of Gardner & Billing, CPAs PLLC

FACTORS THAT AFFECT COVERAGE The nature of your business, number of employees being covered and past coverage and claims are all factors in how much your premium will cost. Worker’s compensation comes down to three things: What do you do?   Workers' compensation premiums are calculated, in part, by the kinds of work performed. Many businesses have multiple functions performed by different kinds of employees - others have just a few people who wear many different hats. It's important to classify employees accurately - based on what they spend the majority of their time doing - because this could alter your premium dramatically. What’s your record?   Any claims, big or small, can influence your premium. A long history of no claims makes your business desirable to insurance carriers and can get you lower rates. If you've been in business for less than three years, you don't have as much past record to evaluate. Where do you live?   Who needs to be

WHAT TO KNOW You are required to carry workers' compensation insurance in Montana if: You have any employees working in Montana, whether full-time or part-time. You’re hiring someone who is not an employee who doesn't have an independent contractor exemption or their own policy coverage. Make sure any independent contractors either have an ICEC (Independent Contractor’s Exemption Certificate) issued by the Montana Department of Labor and Industry or proof of workers’ compensation insurance. In Montana, it is the employer's responsibility to verify this documentation or risk being held liable. Employee or independent contractor? It’s important to know if you - or if someone you’re hiring - would be considered an employee or an independent contractor. This determines who will be held responsible for medical bills or lost wages should you get injured on the job. A number of factors are reviewed when evaluating your status. Here are some things to think about: Are y