Home health care agencies provide services that are crucial to many people towards the end of their life. With the Baby Boomer generation getting older with each passing year, the need for these services will only continue to grow. With that growth will come increased need for these businesses to protect themselves through a strong Commercial Insurance Policy.
Home health care agencies may differ in scope from general assistance to highly skilled nursing services. Depending on the extent of the work there are a number of policies each business will need to secure in order to fully protect the business. Most home health care businesses will need the following insurance:
- General Liability
- Workers’ Compensation
- Professional Liability
- Business Personal Property
- Hired and Non-owned Auto Insurance
- Commercial Crime
General Liability covers damages to the premise of the client and bodily injuries that occur as a part of normal business operations. Workers’ Compensation is required by law in most states and is the ‘exclusive remedy’ for injuries to your employees that occur as part of your normal business procedures. It provides medical care and some lost wages for injured employees and it provides your business with protection from lawsuits because of injuries that happen as part of normal business. Professional Liability may or may not be needed depending upon the scope of the services you provide. If nurses are receiving directions from doctors and administering medicines than this policy is definitely needed. Business Personal Property Coverage covers the personal property of your employees while they are on the job but located at the residence of the client. Hired and Non-owned Auto Coverage is for the driving exposure when your employees are driving to the clients residence or if they are driving between the residences’ of more than one client throughout the day. Commercial Crime covers your business for any incident of employee dishonesty. The fact that your clients in most cases are older in age, puts the at risk to be victims of identity theft or elderly financial abuse. Commercial Crime Coverage will limit the exposure of your business should one of your employees commit a crime while representing your business.
Here are several of the most common used classification codes for home health care and assisted living businesses.
Business Liability Category: Health Care Providers
SIC Business Insurance Codes:
- • 8082- Home Health Care Services
NAICS Liability Classifications:
• 621610- Home Health Care Agencies and Services
• 532291- Home Health Equipment Rental
Business ISO General Liability:
• Code: 44500- Home Health Care Services (non-profit)
- • Code: 44501- Home Health Care Services (for profit)
Common Workers Compensation Class Codes:
• 8835 – Home Health Care- All Employees
• 8829 – Nursing Homes and Assisted Living Facilities
• 8824 – Healthcare Employees a Retirement Living Centers
- • 8825 – In CA, MA, NJ, NY and TX Applies to food service employees at retirement living centers.
- • 8826 – In CA, NJ, NY and TX Applies to all employees of a retirement living center who are not health or food related.
- • 8827 – California Exception Code. Applies to home healthcare medical professionals providing services in clients homes.