If you are a small business with even just one employee, you must have Workers’ Compensation. It’s a topic most entrepreneurs really don’t like to think about. And it can be a stumbling block for solopreneurs (the fastest growing segment of entrepreneurship) thinking about hiring an employee, but nervous to take that step. This podcast is here to clear the confusion, and take away the anxiety associated with Workers’ Comp.
“We don’t understand it. We’re not quite sure how to apply for it. We don’t even know what workers’ comp is, more often than not.” ~ Mary McCarthy
Podcast host Mary McCarthy talks to Brett Pizzuto, Business Development Manager with Compensation Solutions Inc., a third party administrator located in Powell, Ohio. They consider themselves problem solvers when it comes to workers’ comp, helping small businesses understand and navigate the rules. And in Ohio, the rules are different.
“A lot of new business owners don’t understand that.. These are all the steps we take in making sure new businesses and even existing businesses understand Workers’ Comp as a whole… It’s the backend of the business where quite frankly, in my experience, most business owners know the least about. But, it’s the component that if it goes unchecked, can come up and bite you in the backside.” ~ Brett Pizzuto
What You Will Learn About This 15-Minute Podcast:
- An understanding of the basics of Workers’ Comp, and Workers’ Comp rules in Ohio
- What happens if you do not have coverage when you should have?
- What happens if a claim occurs and you don’t have coverage (known as a non-compliant claim)?
- A basic understanding of how Workers’ Comp rates are calculated
- What a TPA and MCO are, and why you need them
Host Mary McCarthy is the President of YMT Consultants, an entrepreneurial consulting and training firm. It focuses on one-on-one work with microbusiness owners (businesses with 20 or fewer employees, including the solopreneur), assisting them to monetize and create systems for their small businesses.
About the Guest:
Business Development Manager
614.799.8439 ext. 201
About the Host:
President of Your Management Team, Inc.
Co-Founder of the Women’s Small Business Accelerator, Inc.