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Expense Reduction with Workers' Compensation Audit

Expense Reduction with Workers' Compensation Audit

 

Our Workers' Compensation Audit identifies and recovers workers’ compensation premium overcharges by reviewing the past five to seven years of classifications, experience rating calculations and premium audit calculations.

Our experience indicates that over 70% of all companies have been or are currently overcharged for their workers’ compensation premiums.

The minimum requirement for our service is in industries that have an average workers compensation premium of $50K or above.

Companies that have operations in more than one state increase the opportunity of recovery a refund substantially.

 

How much time will the client spend on the review?

Total time spent by the client is typically an hour at the most during the course of the review. Client will be responsible for executing request for document letters and possible follow up by email or phone to agents/insurance carriers.

 

What is the best potential client for the W.C. service?

Clients paying an average annual premium of $40K qualify for the service. An ideal case is one where the potential client is paying between $100K - $500K annually for their W.C. insurance.

 

What industries are most likely best served?

The industries with the higher risk of employee injury are the best target industries including construction, manufacturing, temporary employment agencies, health care, etc.

 

What states are the best states for likely success?

We do NOT conduct reviews in the monopolistic states (WA, WY, ND & OH). Over the years, we've had our best results in states located along the east coast from Maine to Florida as well as the Midwest including Illinois, Wisconsin, Tennessee, Kansas, Indiana and Colorado. We've had success in California (not as much as the other states mentioned above), however California premiums are the highest in the country so California companies should be motivated to have a review conducted based upon the amount of premiums being paid.

Average Recovery?

Average total recovery is 10-15% of a company's one-year average annual premium. For example, if a company has been paying on an average $100,000 per year in workers' comp premiums, the average total recovery would be $10,000-$15,000.

How far back will a review go?

An overpayment can go back 5-7 years, however depending on the class codes and some restrictions some recoveries will only go back 3 years.

 

Here's How The Process Works

 

Let's Get You On An Initial Discovery Call

 

Track Your Refund

 
Track Federal Refund Check Federal Amended Return Refund

Check your State Refund

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