Options Exist to Reduce Workers Comp Costs

The cost of workers compensation coverage is commonly cited as a major burden when we do surveys of area businesses and talk to members.  But you do have some savings options available to you and now is the time to explore those. Please read on for more about the Chamber's workers comp program.

 

You can save significantly on your workers' compensation premium by joining the Zanesville-Muskingum County Chamber of Commerce workers' compensation program administered by CareWorks Consultants, Inc. (CCI).

  

We partner with CareWorks Consultants to deliver the most significant cost savings to our members. CareWorks Consultants embraces a results-oriented approach that fully integrates safety prevention and risk control with aggressive claims management to deliver a significant return on investment. The Chamber and CareWorks Consultants can analyze your company to determine the BEST workers' compensation premium-saving program for you.

• Group Rating - CCI's group rating program is the only plan endorsed by the Chamber.In 2012 the program's estimated return on investment averaged 533%. (see Safety Council information below, too.)
• Group Retrospective Rating - This program offers premium savings projected as high as 83% and can be a great alternative for companies unable to qualify for traditional group experience rating. (see Safety Council information below, too.)
• Deductible Program - This program offers discounts (up to 77%) on premium rates in exchange for accepting a specified deductible amount.
• 100% EM Cap -Companies becoming penalty rated for the upcoming policy year can have increases to their Experience Modifier (EM) limited, or capped, at 100%, thereby limiting rate and premium increases.
• Other Alternative Rating & Discount Programs -Drug-Free Safety Program, One Claim Program, Safety Council, Salary Continuation, and others.
• Self Insurance - Companies pay compensation and medical costs directly for work-related injuries avoiding escalating reserves and premiums charged by the Ohio Bureau of Workers' Compensation. CareWorks Consultants serves more Ohio self-insured employers than any other third party administrator.

As a result of their best-in-class service, CareWorks Consultants has consistently maintained a 97% retention rate - one of the highest in the industry. Put their team to work for you. For a no-cost, no-obligation program analysis, please click here and complete the form. You may also contact CareWorks Consultants' Jason Bainum, toll-free, at 1-800-837-3200, ext. 7114, jason.bainum@ccitpa.com.   

ALSO, you can save on workers comp by participating in the Safety Council program.  More than 60 companies participate and save each year.  The deadline to join is this month - July 31 - so be sure to submit your enrollment form NOW.  Make note: Participants in Group Rating and Group Retrospective can now earn half the rebate for Safety Council too, so don't assume you are not eligible for both discounts - you now are!