6/21/2010
Focus on Summer Safety
The summer months often arrive with increased exposure to work injuries and challenges to prevent them - the following are 10 tips to help you through (click "view our blog" below to continue).
6/3/2010
Employee Fraud: unreported earnings while on wc disability
On December 17, 2009, a Framingham, MA man pled guilty to workers compensation fraud and perjury for misreporting his earnings while receiving disability payments from the wc carrier -- As prudent claims management, we recommend that clients check earnings of almost all employees after 45 days of temporary disability – here’s how .
(Massachusetts claims) Ask the claims examiner to send an “Employees Earnings Report” (DIA form # 126) to the injured employee (click view our blog below to continue).
Call Today:
(800) 298-9330
(800) 922-9161
The premium calculation can be complicated, especially the experience rating (mod) and ARAP (all risk adjustment program). Often there are mistakes that go undetected, costing the policyholder thousands in additional premium.
What can be done about this? We work behind the scenes to uncover mistakes and reduce past and current experience ratings. This often results in thousands of dollars in return premium for our clients.
In about 70% of the cases, our clients have been overcharged. Through meticulous and focused process, we establish the basis for recovery and negotiate with the insurance carrier. The credit or refund goes to your company, after which we bill our fee.
Doesn't the insurance company already audit our policy? Yes. However, the purpose of that audit is to substantiate the maximum allowable premium for the insurance company.
How far can we go back? The experience rating and ARAP can be revised for the current and past two policy years. We apply directly to the rating bureau for the revision.
Doesn't my insurance broker already review the policy? yes. And they do find some errors. But many brokers admit that their book of business is too large and varied to conduct this type of detailed review. Your broker performs a valuable service in providing the right insurance for your company. We pick up where the broker leaves off in reviewing the policy and reducing your company's workers comp expense to the lowest possible amount.
How much of my time will this take? There is little or no staff time on your company's part. We do the "paper chase." All we need is two signatures giving us authority to work on your behalf.
How much does this service cost? We work on a contingent fee basis. Our fee is tied directly to results, We receive a percentage of the amount recovered - after you receive the refund check.
How long will this process take? We usually know within 45 days if a recovery is indicated. We provide a status report and the refund usually takes about 2 to 3 more months.
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For more information, please contact us today.