Worker's Comp Insurance Savings: Separating Truth from Myth Part One

Written by on 11/30/2016 3:00 AM in , . It has 0 Comments.


Finding ways to lower workman’s comp costs is often frustrating for employers, who think the chances of finding Bigfoot are far more likely than finding a way to lower their annual premiums. Further complicating matters is the sad fact that even those selling coverage don’t fully understand premium rates and how they’re calculated enough to offer a tried-and-true path to savings. This leaves employers to believe they’re riding along on an insurance company-driven joyride in which they’re out of control, when sadly they could achieve significant savings through simple, common-sense employee safety and health measures.

Fact: Your home state may set the rules and rates, but that does NOT determine everything
While you can’t stop floods from sinking your warehouse, you can control employee compliance with safety rules regarding personal protective equipment (PPE) and other aspects of employee safety – which includes promoting a healthy workforce.

Controlling your worker’s comp world with a safe work environment and healthy workers
A healthy workforce affects more than health insurance premiums. Healthy workers offer both employers and the employees themselves advantageous benefits. Benefits you won’t realize without a winning wellness program – a program that will, in turn, lower health and worker’s comp premiums by reducing the frequency and severity of injuries more prone to occurrence with the chronically ill and obese.

Living in fear of insurance premiums? It’s time to shift your focus. Reducing worker’s comp insurance rates isn't a myth. Discover a new breed of savings techniques, including more ways to save in part two of this installment - or learn more about what Minnesota Comp Advisor has to offer by contacting us today.

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