What is a Worker's Compensation Audit?
A worker's compensation audit involves a thorough review of your business’s worker's compensation insurance policies, claims, and related records. The purpose is to verify that the premiums paid are in alignment with the actual workplace risks and payroll amounts. The goal is to find & recover overpayments made by your company.
Why Consider a Worker's Comp Audit?
Ensure Accurate Premiums: Audits help verify that you are paying the correct amount in insurance premiums, based on actual payroll and risk exposure.
Identify Classification Errors: Misclassification of employees or job duties can lead to incorrect premium calculations.
Compliance with Regulations: Staying compliant with state and federal worker's compensation laws is crucial for any business.
Enhance Workplace Safety: Audits can reveal areas where workplace safety can be improved, potentially reducing future claims.
Did you know that a typical refund is up to 15% of the premium reviewed?
The Audit Process
1
Cost Assessment
The first thing we do is review your vendor contract to determine where you're being overcharged. Within 30 days, we'll present you with our findings and recommendations.
2
Vendor Re-Negotiation
You remain in control throughout the entire audit process. If our team uncovers overcharges, you decide whether or not you want us to secure the savings for you.
3
Confirm Realized Savings
This is the fun part! With your approval, our team will work with your vendor to guarantee you receive rebates for all billing errors & establish new savings moving forward.
