How Do I Complete a Workers’ Comp Exemption Form in Florida?

What are you to do if you want to lower your company’s Workers’ Compensation insurance premium? Besides finding a more affordable plan from a Florida Workers’ Compensation insurance broker, your company’s owners or members may choose to complete a Workers’ Compensation exemption form.

Both construction and non-construction companies in Florida can complete a Workers’ Compensation exemption form online. To apply, you must provide detailed information about your corporation or LLC, including your personal information. There are eligibility requirements corporation owners and LLC members must meet for their application to be approved, and Florida applicants must renew an exemption every two years. While this may help you lower the cost of your company’s insurance premium, a Florida Workers’ Compensation insurance broker can help you find affordable coverage that protects your employees and your company so no exemptions need to be filed.

NPN Brokers wants to help your Florida business get the coverage it needs at the right price. To learn more about the Florida Workers’ Compensation insurance brokers at NPN Brokers, call us today at (561) 990-3022.

How Can Florida Applicants Complete a Workers’ Comp Exemption Form?

Construction companies need to complete the necessary form to file for an exemption from Workers’ Compensation benefits in Florida. To complete a notice to be exempt, Florida construction companies must do so through the Florida Division of Workers’ Compensation website.

Your Florida company’s owners or members can file for an exemption from Workers’ Compensation regulations if they qualify. To complete this form, you can file online. Both construction and non-construction companies need to provide a lot of information in order to complete a Workers’ Compensation exemption form, so compiling all of the necessary details ahead of time is wise.

The following are examples of the information your construction company will need to provide when completing a Workers’ Compensation exemption form in Florida:

• Applicant’s name
• Applicant’s date of birth
• Applicant’s social security number
• Applicant’s contact information
• State driver licenses or Florida ID card
• Corporation/LLC industry
• Corporation/LLC name
• Corporation/LLC contact information
• Business scope
• Division of Corporations Document Number
• DBPR License Number if applicable
• Confirmation number if applicable
• Company affiliations if applicable
• Insurance carrier information if applicable

While you may be filing for exemption from Workers’ Compensation as an LLC member or corporation owner, that doesn’t mean that you’re off the hook if you are otherwise uninsured. It’s important to keep in mind that many Florida businesses do need Workers’ Compensation insurance, and if they are without it, they can face penalties. Unless all of your employees are exempt workers at the time of filing, you will need to have Workers’ Compensation insurance before filing for an exemption. If you find affordable coverage, you may change your mind and choose to continue protecting your Florida business through an inexpensive Workers’ Compensation insurance plan.

When filing an exemption notice as an LLC member or corporation owner of a construction company, be prepared to pay a fee of $51, which includes a convenience fee, with your credit card or prepaid card. Florida applicants can expect to hear back from the Florida Division of Workers’ Compensation within 30 days of submitting their exemption request.

What Are the Eligibility Requirements to Complete a Workers’ Comp Exemption Form in Florida?

When LLC members or corporation owners file for an exemption from Workers’ Compensation insurance in Florida, they choose to remove themselves for eligibility of benefits. In doing so, the number of non-exempt employees lowers, potentially reducing a company’s insurance premium. In order to do so, LLC members and corporation owners must meet certain criteria to submit a successful notice to be exempt in Florida.

The eligibility requirements differ, depending on whether your Florida business is a construction company or not. The following are some eligibility requirements for construction companies in Florida whose owners or members are seeking exemption from Workers’ Compensation benefits:

• LLC or corporation must be listed as active with the Florida Department of State, Division of Corporations
• Applicant must own at least 10% of the corporation or LLC
• No more than three LLC members or corporation owners can file for an exemption
• Applicants may not be affiliated with a Working in Violation or ACTIVE Stop Work Order

The eligibility requirements for non-construction companies whose members or owners seek exemption from Workers’ Compensation benefits are generally less restrictive. The following are some of the eligibility requirements for non-construction companies in Florida:

• LLC or corporation must be listed as active with the Florida Department of State, Division of Corporations
• Applicant must be a known officer of a corporation by the Florida Department of State or own at least 10% of the company if an LLC member
• At most, 10 LLC members can file for an exemption
• Applicants may not be affiliated with a Working in Violation or ACTIVE Stop Work Order

Exemptions must be renewed every two years, which means corporation owners or LLC members must maintain eligibility to not have their Workers’ Compensation exemption revoked in Florida.

Should You Complete a Workers’ Comp Exemption Form in Florida?

If you’re considering filing a Workers’ Compensation exemption form in Florida, there’s much to consider before you do. Depending on your industry, making yourself exempt from Workers’ Compensation benefits can mean taking a substantial financial risk.

There is really only one scenario where filing for a Workers’ Compensation exemption can be financially wise. That’s if you are not involved in the construction industry, and your members or owners are driving up the cost of your premiums. Exempting corporation owners or LLC members from Workers’ Compensation benefits can lower premiums for your company, reducing the cost of insurance.

Otherwise, filing for a Workers’ Compensation exemption can be dangerous. Sure, you want to lower your premiums, but at what cost? Exempting employees from Workers’ Compensation benefits can be a large financial risk, especially if a work-related injury occurs. If you don’t have adequate insurance because you have exempt employees, you risk being financially liable for all related costs. Partnering with a Florida Workers’ Compensation insurance broker can help you find affordable coverage that protects your business at an inexpensive rate.

Call Our Florida Brokers for Workers’ Comp Insurance Today

Instead of risking financial liability in case of an employee injury, get Workers’ Compensation insurance coverage to protect your Florida business. To learn more about the Florida Workers’ Compensation insurance brokers at NPN Brokers, call us today at (561) 990-3022.