Auditing Your Open Workman's Comp Files May Pad Your Wallet

Written by on 5/30/2016 3:59 AM in , , . It has 1 Comments.


Put off by the idea of workman’s comp claims audits? You could be missing out on some serious dough. Why? Audits help identify changes that can lower experience modification ratings and potentially reduce premiums.

How does it work?
After your policy expires, an audit can determine your actual exposure. Once completed, the amount owed to you – or vice versa – will be sent via a final audit statement, typically within 5 months of the end of your worker’s comp policy period. There are 2 types of audits, determined by the type and nature of your business:

  • Physical audit
    Completed within 60 days of the expiration of your policy and scheduled in advance.
  • Voluntary audit
    Completed within 30 days of the expiration of your policy, with necessary information submitted by you via mail. (Accuracy is essential, so contact your policy holder if there is confusion.)

Make the process faster - Organize these files for your auditor:

  • Payroll records
    Including tax reports, unemployment reports, and individual earnings records (with overtime separate).
  • Employee records
    Indicating job duties, number of employees, and scheduling.
  • Cash disbursement
    Payments to subcontractors, casual labor, and materials.
  • Certificates of insurance
    For all independent and subcontractors.
  • Operations info
    A detailed business description.

Neighborly auditing advice
Stick to answering only those questions your auditor asks for a faster, smoother process. In addition, be certain to review the auditors work before they leave your office. (No take-home audits or signing incomplete worksheets!) This allows you to review the classification of employees as well as the impact the audit will have on your business.

Workman’s comp claim audits overwhelming you? Minnesota Comp Advisor can help. Contact us today.

Comments

Got something to say? Join the discussion »
  1. qiuling79's avatar qiuling79
    http://www.pandorajewelryscharms.us.com/ pandora jewelry
    http://www.kd10-shoes.us.com/ kd shoes
    http://www.balenciagas-sneakers.us.com/ balenciaga
    http://www.air-max-270.us.com/ air max 270
    http://www.ralphlauren--polo.us.com/ ralph lauren dresses
    http://www.eccoshoesoutlets.us.com/ ecco sandals
    http://www.oakley--sunglassess.us.com/ oakley glasses
    http://www.adidasyeezys.org.uk/ yeezy
    http://www.monclerjacketwomens.us.com/ moncler
    http://www.salomon-boots.us.com/ salomon
    http://www.adidas-ultraboost.us.com/ yeezy boost
    http://www.monclerjacketmens.us.com/ moncler jacket womens
    http://www.ray--bansunglassess.us.com/ ray ban
    http://www.christianlouboutinredbottoms.us.com/ red bottoms
    http://www.kyrie-irving-shoes.us.com/ kyrie 4
    http://www.yeezyboost350--v2.us.com/ yeezy boost 350
    http://www.barbourjackets.co.uk/ barbour outlet
    http://www.ed-hardys.us.com/ ed hardy shirt
    http://www.asics--shoes.us.com/ asics
    http://www.polo-ralph-lauren.org.uk/ ralph lauren, polo
    http://www.airmax-2018.us.com/ nike air max 2018
    http://www.nikeair-max.co.uk/ nike air max
    http://www.pandorasjewelry.co.uk/ pandora charms
    http://www.adidas-yeezy-shoes.us.com/ Yeezy
    http://www.pumarihannafenty.us.com/ puma rihanna
    http://www.monclerjacket.org.uk/ moncler jacket womens
    http://www.adidasyeezy-350.us.com/ adidas yeezy
    http://www.rayban-glasses.us.com/ ray ban aviator sunglasses
    http://www.birkenstocksandalssale.us.com/ birkenstock shoes
    http://www.longchampbackpack.us.com/ longchamp handbag
    http://www.skecherss.us.com/ skechers uk
    http://www.ugg--slippers.us.com/ uggs for women
    http://www.mulberrys.org.uk/ mulberry
    http://www.jimmychooheels.us.com/ jimmy choo heels
    http://www.louboutinredbottoms.us.com/ christian louboutin shoes
    http://www.katespadebags.us.com/ kate spade wallet
    http://www.nikelebron15.us.com/ lebron 15
    http://www.jordanretro11-shoes.us.com/ jordan 11
    http://www.chrome--hearts.us.com/ chrome hearts bracelet
    http://www.adidas--shoes.co.uk/ adidas shoes
    http://www.polo-ralphlauren-outlet.us.com/ ralph lauren polo shirts
    http://www.montblancs.us.com/ mont blanc
    http://www.katespade--outlet.us.com/ kate spade purses
    http://www.fitflops-sale.us.com/ fitflop shoes
    http://www.adidasnmd-womens.us.com/ adidas nmd
    http://www.uggsformen.us.com/ uggs for women
    http://www.katespadepurses.us.com/ kate spade purses
    http://www.lacosteshirts.us.com/ lacoste outlet
    http://www.ray--ban.us.com/ ray ban prescription sunglasses
    http://www.pandorajewelryrings.us.com/ pandora necklace
    http://www.pandoras-uk.co.uk/ pandora rings
    http://www.mcm--bags.us.com/ mcm
    http://www.airmax270.co.uk/ off white nike
    http://www.chromehearts-jewelry.us.com/ chrome hearts clothing
    http://www.salomonspeedcross3.us.com/ salomon shoes
    http://www.adidas-yeezyboost350.us.com/ yeezy boost 350
    http://www.adidasnmdrunnerr1.us.com/ nmd adidas
    http://www.balenciaga--shoes.us.com/ balenciaga women
    http://www.cartier-bracelet.us.com/ cartier jewelry
    http://www.barbours.org.uk/ barbour jacket
    http://www.jordans11shoes.us.com/ jordan 11 retro
    http://www.nike-huaraches.us.com/ huarache shoes
    http://www.ferragamoshoess.us.com/ salvatore ferragamo
    http://www.uggs--boots.us.com/ ugg boots
    http://www.hermesbirkin-handbags.us.com/ Hermes Birkin Bags
    http://www.air-max-90.us.com/ air max
    http://www.air-max-95.us.com/ nike air max 95
    http://www.supreme--clothing.us.com/ supreme clothing
    http://www.fitflopsshoes.us.com/ fitflop shoes
    http://www.skechers--shoes.us.com/ skechers women
    http://www.kyrie-4.us.com/ kyire 4
    http://www.air-max-97.us.com/ nike air max 97
    http://www.pandoras-jewelrys.us.com/ pandora jewelry
    http://www.pandora--rings.us.com/ Pandora Charms
    http://www.northface-jacket.us.com/ north face jacket
    http://www.pandoraearrings.us.com/ pandora charms
    http://www.nike--vapormax.us.com/ nike air vapormax flyknit
    http://www.redbottom--shoes.us.com/ louboutin
    http://www.mbts.us.com/ mbt mens shoes
    http://www.adidasoriginalsnmd.us.com/ adidas nmd
    http://www.northfacejacketoutlets.us.com/ north face coats
    http://www.nikekdshoes.us.com/ kevin durant shoes
    http://www.fitflop--sandals.us.com/ fitflop
    http://www.stephen-curry-shoes.us.com/ curry 4 shoes
    http://www.true--religion.us.com/ true religion sale
    http://www.pandora-jewelrysale.us.com/ pandora jewelry official site
    http://www.vapormaxs.us.com/ nike vapor max
    http://www.curry4-shoes.us.com/ under armour stephen curry
    http://www.oakley--glasses.us.com/ oakley eyeglasses
    http://www.chromeheartsjewelrys.us.com/ chrome hearts jewelry
    http://www.adidas-superstarshoes.us.com/ adidas superstar
    http://www.nikeairmax270.org.uk/ nike air max 97
    http://www.airjordan11spacejam.us.com/ air jordan
    http://www.rayban--glasses.us.com/ ray ban
    http://www.salomonshoes.co.uk/ salomon xa pro 3d
    http://www.mcms.us.com/ mcm handbags
    http://www.coachbags-outlet.us.com/ coach bags
    http://www.nikeairmax-97.us.com/ air max 97 gold
    http://www.moncler--jacket.us.com/ moncler jacket mens
    http://www.pandora--jewelrys.us.com/ pandora jewelry
    http://www.valentino--shoes.us.com/ valentino sandals
    http://www.nikeair-max90.co.uk/ nike air max 95
    http://www.salvatore-ferragamo.us.com/ ferragamo
    http://www.nikeairmax97.co.uk/ nike air max
    http://www.skechersuk.co.uk/ skechers women
    http://www.jordan11.co.uk/ jordan retro
    http://www.nikeairmax-95.us.com/ air max 95 mens
    http://www.longchampbag.us.com/ longchamp backpack
    http://www.goyardbackpack.us.com/ goyard backpack
    http://www.pandorauk.us.com/ pandora charms
    http://www.ralphlaurenspoloshirts.us.com/ polo
    http://www.bvlgaris.us.com/ bvlgari wallet
    http://www.lebron15-shoes.us.com/ lebron james shoes
    http://www.airmax95.co.uk/ nike air max 90
    http://www.burberry-bags.us.com/ burberry
    http://www.adidasoriginalsultraboost.us.com/ adidas ultra boost
    http://www.burberry--scarf.us.com/ burberry
    http://www.michaelkors-handbagss.us.com/ michael kors handbags
    http://www.monclers.uk/ moncler
    http://www.nikeairvapormaxflyknit.us.com/ nike air max
    http://www.birkenstock--sandals.us.com/ birkenstock outlet
    http://www.burberrys.org.uk/ burberry
    http://www.salomon--shoes.us.com/ Salomon Boots
    http://www.jordan--11.us.com/ jordan retro 11
    http://www.pandora-jewelrybracelet.us.com/ pandora jewelry
    http://www.swarovskis.us.com/ swarovski bracelet
    http://www.ultra--boost.us.com/ ultra boost mens
    http://www.mulberry-handbags.us.com/ mulberry bayswater
    http://www.yeezyboost350v2.co.uk/ adidas yeezy
    http://www.nikeairmax-90.us.com/ nike air max 90
    http://www.hermes--belt.us.com/ hermes belt men
    http://www.nike-airmax270.us.com/ nike air max
    http://www.yeezyboost350shoes.us.com/ yeezy boost 350 v2
    http://www.goyardbag.us.com/ goyard wallet
    http://www.redbottoms-louboutin.us.com/ red bottom shoes
    http://www.nike-airmax-2018.us.com/ air max 2018
    http://www.moncler-coat.us.com/ moncler
    http://www.jordan11spacejams.us.com/ jordan 11
    http://www.uggs-forwomen.us.com/ uggs on sale
    http://www.celines.us.com/ celine purse
    http://www.adidasnmds.co.uk/ nmd
    http://www.under-armour-shoes.us.com/ under armour shoes
    http://www.nike--shoes.co.uk/ nike air max 97
    http://www.pandora-charmsjewelry.us.com/ pandora
    http://www.supremeshirt.us.com/ supreme shirt
    http://www.james-hardenshoes.us.com/ james harden shoes
    http://www.kevin-durant-shoes.us.com/ nike kd
    http://www.asicss.us.com/ asics outlet
    http://www.prada--handbags.us.com/ prada wallet
    http://www.new--balance.us.com/ new balance golf shoes
    http://www.prada--bags.us.com/ prada
    http://www.swarovskisjewelry.us.com/ swarovski jewelry
    http://www.fitflop--shoes.us.com/ fitflop
    http://www.michael-kors-bags.us.com/ michael kors purse
    http://www.airmax90shoes.us.com/ nike air max
    http://www.truereligion--jeans.us.com/ true religion jeans men
    http://www.huaraches.us.com/ huarache shoes
    http://www.bvlgaris.us.com/ bvlgari ring
    Reply 8/3/2018 5:56 AM

Leave a Reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail