I was born to do Ohio workers’ compensation. I worked for a personnel consultant, acting as the personnel department for companies too small to have a personnel department. It was managing the workers’ compensation claims to minimize premiums that propelled me to become a business owner helping other business owners.
Because I’m a business owner, I know what my clients want: a trusted advisor who works consistently behind the scenes to help them minimize their premiums. I guide them when it’s time to make a decision like whether to accept or fight a claim. I remind them when their premium installments are due and when it’s time to report their payroll during True-up each summer. I send personalized reminders, not generic ones that make them try to figure out if it applies to them. If they are buying all or part of a company, I investigate to make sure they aren’t acquiring a workers’ comp nightmare.
To me, the Third Party Administrator is the watchdog over all the players in the workers’ comp arena. I make sure the Managed Care Organization gets all the medical records and doesn’t keep authorizing excessive treatments that increase claim costs. I advise the BWC when my clients’ payrolls change enough to impact their premiums. I work with my client’s attorney when hearings are scheduled, which minimizes the attorney fees. I attend BWC audits to help the auditor get the fastest and best results.
So who needs workers’ compensation? You must have coverage if you have employees. You can also get a policy if you want coverage for yourself as the solopreneur or if you want to protect your company from claims filed by your 1099 workers or subcontractors. Although the premium rates are multiplied by your payroll, premiums are not a tax and are not within your accountant’s area of expertise.
The fastest way to describe what I do is “I Get the Workers’ Comp Monkey Off Your Back®.”
By Bonnie Fraser
