In this episode of the Assisted Living Investing Podcast, host Brandon Gustafson dives into the essentials of workers’ compensation insurance for assisted living business owners. Drawing from his real-world experience running residential care homes since 2020, Brandon explains why workers’ comp isn’t just a legal requirement—it’s a vital safety net for your staff and your business.
00:00:00 – Introduction
00:00:22 – Topic Introduction: Workers’ Compensation Insurance
00:02:23 – What is Workers’ Comp Insurance?
00:04:17 – Legal Requirements for Workers’ Comp
00:05:16 – Cost and Finding Workers’ Comp Insurance
00:08:11 – Quarterly Reporting and Premium Calculation
00:10:00 – Typical Costs Breakdown
00:11:03 – What Workers’ Comp Covers
00:13:09 – Why You Should Always Get Workers’ Comp
00:13:36 – Personal Experience with Workers’ Comp Issues
00:15:14 – Real-Life Claims: Bedbug and Injury Incidents
00:17:30 – Importance of Maintaining Continuous Coverage
00:19:11 – Final Thoughts
Resources Mentioned:
Visit our website, AssistedLivingInvesting.net, for additional resources, including our year-long mastermind program and free underwriting calculator.
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Join the Business Foundation Basics Workshop: Assisted Living Business Foundation Basics
Learn the five steps to help you start an assisted living business: https://youtube.com/live/dRVCa80SOyM
Get the 12 Week Year Book: https://amzn.to/4bAOpQf
Marketing Made Simple by Donald Miller: https://amzn.to/3ECoNY5
Who Not How by Benjamin Hardy : https://bit.ly/whonothowbooklink
Courses:
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FREE Resources:
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- Calculator: https://urlgeni.us/alicalc
- Lease Agreement Template: https://urlgeni.us/alila
- ProfitPath Analysis Tool: https://urlgeni.us/aliprofitpath
- Grant Writing Template: https://urlgeni.us/aligrant
Need help with your payroll? Get Gusto: https://gusto.com/i/brandon9590
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