Archive for: For Professionals

In 2021 WorkComp Advisors noticed that auditors were being far more aggressive than they had been in the past. In some respects, it was understandable. Payrolls and worker’s comp net written premium were down significantly in 2020 and it’s the auditors’ job to recoup as much as possible. Many expected a return to less aggressive […]

As Certified WorkComp Advisors (CWCA), we are trained, certified, and mentored by the Institute of WorkComp Professionals (IWCP) to guide employers to the lowest possible workers’ comp costs. Kevin Ring, Chief Operations Officer and Lead Workers Comp Analyst of IWCP recently reported on a consequential pattern that is emerging from Workers’ Compensation audits across the […]

While an IRS audit strikes fear in the hearts of business owners, a Workers’ Compensation premium audit is considered routine. Yet, there is a very good chance that it can result in higher charges, particularly if you are not adequately prepared. Clerical errors, incorrect classifications, and miscalculations often lead to overcharges. There are two important […]

Is overtime included in workers’ comp payroll? In most states, no. Only the straight-time part counts toward premium. Pennsylvania, Delaware, Utah and Nevada are the exceptions. Nevada counts more than overtime. Severance pay, payments for active military duty and tips are also part of premium payroll there. Severance is excluded in every other state. The […]

Many businesses accept on “good faith” that the Workers’ Comp audit is done correctly. Yet, the audit process is complex and prone to many errors and omissions. Since a Workers’ Compensation premium is estimated initially, the actual cost is determined through the premium audit, which can result in higher and unexpected costs. There are two […]