Helping PEO & Staffing Firms 𝗚𝗿𝗼𝘄 & 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗣𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆 by Optimizing their Risk and Insurance Programs
Another tip to reduce workers’ comp costs: Workers’ comp can be a financial drain and a source of constant frustration. But understanding compensability can change the game. Here’s the deal: • Injuries at and due to work are compensable. It’s that simple. • Documents matter. Witness reports and medical records can validate or disqualify a claim. • Be vigilant with pre-existing conditions to avoid fraud and overpayment. Applying these insights could slash your workers’ comp expenses. Remember, you’re in charge, not the insurance industry. The upside? Lower premiums and better resource allocation. “But wait, there’s more”….in my Ron Popeil voice… Most states require reporting and payments before confirming compensability. Manage this using the following strategy: 1. Report immediately to avoid compliance issues. 2. Start payments to prevent penalties. 3. Quickly investigate the claim. 4. Document everything thoroughly. 5. If it’s not compensable, stop payments and retrieve what you can. Listen, if the claim is valid, we want and you should want your employees to get everything they are entitled to. We are simply saying if the claim is not legit, then you have to know how to manage that! We never want our clients being in the dark and never want them to pay more than they have to. When you only pay claims that are legitimate then you end up with happier employees and cheaper premiums—a win-win for all!! Your broker doesn’t know, but John knows! #WorkersCompWisdom #InsuranceInsight #Staffing #PEO
