Employee Benefits

Money Saving Tips: Lower Your Workers Comp Premium

By January 20, 2014 July 29th, 2019 No Comments

As a business owner, you may often wonder how and where you can save money. It may seem like an impossible feat, but our agency is here to let you in on a few money saving tips. This week, we would like to take a look at workers compensation in particular. There are a number of tips that may result in a reduced premium, and here are three to start…

#1: Implement a Return to Work plan and stick with it. This will allow you to monitor your employees while they are out with an injury or illness. Keeping tabs is a sure way to get an employee back to work as soon as possible and reduce the chance of an increase in premium.

#2: Make safety a priority in the workplace. Whether you hold training sessions or safety workshops, these are both great ways to lower the risk of an accident on company property. The fewer accidents, the fewer claims on your workers compensation, and the lower your premium will remain.

#3: Always keep track of employees’ medical appointments to remain “in the know,” and avoid any workers compensation fraud. Employees may claim to be injured, but if you have suspicions, do not be afraid to investigate or look further into the claim. Fraud is a sure way to increase your premium.

If you have not given these tips a shot in the past, why not try today? You will never know what you could save if you do not try. The key thing to focus on in many cases is safety, of course. Maintaining a safe work environment is critical to maintaining a low premium.

If you are interested in finding out about savings, please do not hesitate to call our agency at your earliest convenience. We would be more than happy to speak with you!

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