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3 Proven Ways to Reduce Your Workers’ Compensation Costs

Insperity

If you’re looking for ways to save on workers’ compensation insurance, you’re well aware of the direct costs that you pay in premiums. But what you may not have considered is the indirect costs of on-the-job accidents and injuries, which go beyond what you pay for workers’ compensation insurance.

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How to reduce workers’ compensation costs: 3 proven strategies

Insperity

Are you struggling with how to reduce workers’ compensation costs for your business? If not, do you understand the sizeable risk that workers’ compensation claims pose to your business, and do you have a plan in place for when these claims arise? That’s why controlling workers’ compensations costs is so important to your bottom line.

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Most Employees Spend Little Time Choosing Their Health Plan

InterWest Insurance Services

workers are not spending a significant amount of time researching health plans during open enrollment, including: Satisfaction with their plan — The study found that 90% of employees were satisfied or somewhat satisfied with their employer’s open enrollment process. workers were enrolled in them. In 2022, 32% were.

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The Value of Modified Duty Programs – Ask #HR Bartender

HR Bartender

Any thoughts about using off-site, non-profits or charities to accommodate modified duty for an injured worker? a national workers’ compensation and human resources consulting company. She’s the author of two books: “ From Workers Comp Claimant to Valued Employee ” and “The Injury Management Challenge.”.

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What Is an Employee Benefits Consultant and What Do They Do?

Fringe Benefit Analysts

That is why many businesses rely on independent employee benefits consultants to guide them through the process of choosing competitive benefit packages that are cost-effective for all concerned. Once a plan is selected, a benefits consultant dispenses the chosen packages and manages the benefits going forward.

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Future-ready HR: The versatility of full-service PEO partnerships

Insperity

They consult with client companies on a regular, ongoing and proactive basis. An example of this is a client company discovering that they’ve been continuing to pay for medical insurance for a terminated employee. You have many options for outsourcing your company’s human resources (HR) function.

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Narrow Networks, Tiered Plans May Reduce Costs

InterWest Insurance Services

Insurance carriers have been trying out new approaches to controlling costs, while improving health outcomes for their plan enrollees. A referral management system aims to facilitate good communication between the consultant, specialist, health care provider and the patient. Other cost-saving measures.