Are you concerned about managing Workers’ Comp Insurance?
Workers’ compensation insurance is one of the most expensive components of a business insurance program. The rules governing workers’ compensation insurance are set by each state. Costs vary from state to state, and they can get expensive depending on your industry. You need to learn about it and how to minimize your costs, in order to save money.
Workers’ compensation insurance pays a benefit designed to replace at least a portion of the income that the employee would have earned for the time not worked. If your company doesn’t have many injuries or very expensive claims, it’s a simple process. However, injury frequency and severity play a big role in raising workers’ compensation costs.
There are several things you can do to control overall costs:
- Assess hazards at your business.
- Develop a written safety program.
- Make safety a part of the salary review process.
- Investigate every injury incident.
- Work with your claim adjuster on the employee’s medical progress.
- Spot injury trends by looking at loss history.
- Partner with a professional employer organization to easily gain access to safety programs, policies and guidance.
How do PEOs work? PEOs agree to perform specified employer responsibilities for their client companies’ workers, overseeing:
- Withholding and reporting payroll-related taxes.
- Accounting and paying wages for workers.
- Securing workers’ compensation insurance for employees.
The small-to-midsize business market traditionally has been underserved by insurance carriers. Accounts that generate a small premium often receive very little in the way of loss control services or claims management services, but in using a PEO, small-to-midsize firms can get such safety practices as:
- Pre-employment drug testing.
- Loss control.
- Claims management of injuries.
- Back-to-work programs.
- Drug-free workplace programs.
These programs enhance employee safety and well-being. Small-to-midsize businesses can benefit from such programs and from fewer workplace injuries. PEOs address worker complaints through case management ranging from monitoring treatment to carrier contact and helping injured workers receive proper care.
Professional Employment Organizations uphold the integrity of the workers’ compensation system, working with carriers, and rating bureaus and regulators who administer the system. PEOs have positive incentives to further the efficiency and viability of the system and to improve worker safety. By resolving injured worker claims and reducing workplace injury. Are you still concerned about managing your Workers’ Comp Insurance? Contact us at Atlantic Payroll Partners to learn how we can help you company.
Why Atlantic Payroll Partners
The biggest payroll companies probably won’t have time for your business. It’s that simple, you’ll be a number. At Atlantic Payroll Partners, you’ll be the opposite. We’ll know more than your name; we’ll know the names of your children and their birthday’s as well. We will know you.
We’ve been helping Florida business by managing their payroll and providing workers' compensation quotes for ten years. We help keep payroll cost affordable by provided transparent PEO payroll quotes that allow you to plan your budget accordingly. Like the big payroll companies, you can manage your payroll and payroll timekeeping with us, while reaping the benefits of PEO risk management.
Thinking about payroll outsourcing can be scary. Make sure you know what to expect from payroll outsourcing providers; to make the best decision for your business. In addition to offering payroll, and workers' comp quote we offer: Human Resource consultations, Accounting services, and benefits such as, 401ks and Healthcare plans.