According to the Bureau of Labor Statistics (BLS), one of the fastest-growing sectors of employment in the United States is home health assistance. Employment in this sector is predicted to grow 48% by 2022. According to the BLS, while some of these professionals work in small group homes or larger care communities, the majority are hired by individuals to perform their duties in a client’s home.
Hiring someone to provide this service for anyone in your household comes with many obvious considerations, such as cost, experiences, and compatibility. But be careful not to overlook the importance of adequate insurance—the provider’s and your own. Ask the professional to furnish proof of insurance should they cause injury in the performance of their duty or be injured while working in your home.
If you are the one hiring the professional—not going through a company staffed with home-healthcare workers—consider adding employment practices liability (EPL) insurance to your existing home insurance portfolio. EPL is designed to cover expenses from employment-related lawsuits, such as wage disputes, wrongful termination, and discrimination. Such expenses are not covered under a standard home insurance policy. Some home insurance companies will allow you to add this coverage to your home or personal umbrella insurance policies; others may require you to purchase this insurance separately.Reprinted by permission, The Mines Press, Inc. Volume 44, Issue 6. Insurance products are not a deposit, not FDIC insured, not insured by any government agency, carry no bank guarantee, and may go down in value.