Are you prepared to pay all the medical, legal and lost wage expenses of an employee or contractor hurt on the job out of your own pocket?
Are you prepared to pay all the medical, legal and lost wage expenses of an employee or contractor hurt on the job out of your own pocket?

We can help find Workers’ Compensation Insurance Through a PEO

Finding workers’ comp coverage can be difficult for a small business owner.

Sometimes a PEO is the best option, or even the only option other than an assigned risk pool. Operating without workers’ comp coverage for your employees is a risky business. Even if you are “exempt” from comp insurance you are still responsible for all monetary compensations related to employee injuries and Employer’s Liability claims (for negligence.) This includes medical expenses, lost wages and legal fees.

Employers, consider the following questions:

  • Have you had a bad experience with a workers’ comp claim?”
  • Can you afford to pay for an injured workers’ medical bills, lost wages and legal fees?
  • Would you rather be building your business instead of dealing with workers’ comp claims?
  • Has previous workers’ comp history increased your “mod” and therefore your premium?
  • Are you having trouble finding a workers’ comp carrier that will accept you as a risk?
  • Does your agent need help finding a solution? (We work with agents)
  • Is your business different, and can’t be helped by a “traditional” workers’ comp policy?

These are just some of situations employers have brought to us. In most cases, even if we can’t provide a direct solution as HR Consultants, we can direct employers to an HR Outsourcing solution which can help.

“They were highly recommended to us” says Brad Taunton of Complete Claims Services. “We needed payroll and comp coverage for our employees and our trusted advisers told us to get a PEO. EmployerNomics not only found us an excellent match, we are now networking with that PEO for more business.”

For businesses that have no problem getting traditional comp policies there are still advantages to having a PEO help you with your risk management and safety programs. Thru risk sharing, all PEOs have a vested interest in reducing injuries in the workplace.

While PEOs are not insurance companies they can still provide coverage for leased employees.

  • PEOs offer “Pay as you Go” premium payments, based on the weekly payroll
  • PEOs usually have a large, “master” workers’ comp policy
  • PEOs are experts at safety programs and risk management. They will assist you in reducing risk.
  • Clients who have had difficulty finding comp might prefer a PEO to the assigned risk pool
  • PEOs normally do not charge the “extras” such as expense constants, increased limits fees, terrorist risk fees

Q. What is “Pay as you Go”?
A. Traditional comp policies are paid annually, or spread out among periodic payments, but still are based on the estimated payroll, and usually require a significant deposit. With a payroll-based premium plan, you only pay the comp associated with the payroll that is paid. This reduces the chance of an annual audit to almost nothing. It can allow the employer to keep their money where it belongs, in their bank account!

EmployerNomics exercises diligence to make sure that their clients only spend what is necessary on workers’ comp. If you would like more information please call us at 407-490-2468.