August 2011

Medicare Set Asides Cause Claim Counts To Spiral?

Medicare Set Aside Claim Counts I was reading a few articles this week on the rise of Workers Comp claim counts. I was astonished at the number of open Workers Compensation claims. Are some TPA’s, employers and insurance carriers deciding to leave their clams open for a longer period of

Hybrid Workers Comp Premium Audits – New Trend?

Hybrid Workers Comp Premium Audits Now More Popular Hybrid workers comp premium audits seem to be rising in popularity very quickly. I noticed this term popping up on websites and premium auditing company booths at conferences. Two years ago, an auditing company at a conference started explaining this new (?)

Five Ways That Workers Comp Is Affected In Bad Economy

Five Ways A Bad Economy Affects Workers Comp A Bad Economy affects Workers comp premiums in varied ways.  I have read a few articles on the effect that our current sour economy has had on insurance such as an upcoming hard market, lowering claim numbers, etc. I thought I would

Self Insured Edition – 5 Ways Workers Compensation Programs Fail

Self Insured Edition – Workers Compensation Program Our readership on the 10 Ways To Tell If Your Workers Compensation Program Is In A Failure Spiral spiked very heavily last week. Some of our self insured clients asked if there were any differences for the self insureds than the regular first dollar

Top Five Ways To Tell If Your Workers Comp Program Is Successful

WC Program – Top Five Ways To Gauge Success Below are the top five ways to assess the success of your Workers Comp program. In my last two posts, I covered how to tell if your Workers Comp program is in trouble. There are many successful programs in place among

10 Ways To Tell If Your Workers Compensation Program In Failure Spiral

10 Ways To Detect Workers Comp Program Failure Spiral  Your WC program failure spiral usually cannot be reversed after a few years of spinning out of control.  One of my favorite books on entrepreneurship is The E-Myth by Michael Gerber. I have borrowed one of the terms he invented concerning

NC Workers Comp Reform – One Huge Area Of Concern

Area Of Concern – NC Workers Comp Reform This is a  major reform  to NC Workers Comp Vocational Rehabilitation.  As I had posted last time, there is one area of concern with the NC laws that were updated on June 24, 2011.As I also mentioned in my last post,I have

North Carolina Workers Compensation Reform – Was It Worth The Effort?

North Carolina Workers Compensation Reform – Nine Changes Raleigh is our home base. I wanted to wait until the North Carolina Workers Compensation reform filtered out after Governor Perdue signed the bill into law on June 24, 2011. The best summary that I have seen on the Workers Comp reforms

Liability CLaims MSA Reporting Now Due To CMS

Liability Claims MSA Report Now Required By CMS The Liability Claims MSA reports are now due. The data for Workers Comp Medicare Set Asides (WCMSA or MSA) were supposed to be reported to the CMS by January 1, 2010 by insurance carriers, TPA’s or employers. There was a little confusion

Sad But Inspiring Story

ABC News Inspiring Story An inspiring story at ABC News about clean water but so sad.As you know, I have never had any advertising on this blog and rarely recommend companies. This post is an exception. A little girl with a big heart put up a website to provide developing

Premium Audit and Reserve Question – How Often Per Policy Year?

Reserve Question And Premium Audit = Not The Same Thing We received this reserve question earlier this week. I thought I would address it now as there seems to be some confusion on the premium audit and reserving process for Workers Compensation. The emailed question was – How often should

Premium Audit Bill Payment Question From Employer

The Premium Audit Bill Arrives Without Explanation We receive this premium audit bill question quite often. I wanted to reiterate what how an employer should handle the situation. The question is – Our company received a workers compensation premium audit billing from our insurance carrier. We did not receive any audit

Premium Audit Errors and Overcharges Are Not Just For Private Employers

Overcharges And Premium Audit Errors  Overcharges and premium audit errors are not only for private employers. Premium audit and policy errors can affect any employer, no matter the size of the business. One of the largest premium errors I have seen was pointed out in a few articles last week.

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