by David Schek | Nov 15, 2013 | Healthcare Insurance, News, Staffing Company
Imagine that a carrier agrees to underwrite your clerical staffing company and when the policy arrives, you inform the carrier that you really staff light industrial employees. Or imagine that the carrier quotes you workers’ compensation rates based on your stated payroll of $1M per year, but when you receive the policy, you inform the carrier that you actually have a payroll of only $100K.
With the Obamacare roll-out debacle, insurance companies have to wonder whether they will receive 5000 or 50M new customers–and when will they get them? More importantly, what will be these customers’ health profile be?
All insurance is based on quantitative metrics that are painstakingly researched by expert teams of actuarials. Insurance is grounded in confidence in data—confidence that the information received for quoting your staffing business is essentially the same as when the policy was developed and approved by the underwriters and State regulators.
Obamacare now harbors many cross currents of information for insurance companies to grasp. One can easily imagine that rates are going to be higher, or that the carriers may decide to wait a few years before bidding on the business. In the worst case, the government may decide to be the insurer of last resort (like the State Funds are with comp) for the next few years. Whatever happens, I suspect that, before long, Obamacare may be significantly modified.
To read more details about this situation, see:
http://www.mcclatchydc.com/2013/11/07/207909/analysis-tens-of-millions-could.html
and
— http://politicalticker.blogs.cnn.com/2013/11/13/can-congress-really-save-insurance-plans-lost-under-obamacare/
To help you stay ahead of these changes or to discuss work comp options for your staffing company, please feel free to contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
by David Schek | Nov 11, 2013 | News, Staffing Company, Tips, Workers Comp, Workers' Compensation Insurance
Reducing Work Comp Rates
The Work Comp Staffing Solutions team is focused on workers compensation and back office solutions for staffing companies 7 days a week for our clients. Over the last 18 months, we have witnessed insurance companies becoming much more selective in the staffing industry with respect to who they underwrite for comp. One reason for this change is that since January, the NCCI reformed their formulas for calculating mod rates (first time in 20 years.) Now, if a staffing company is not best in class from a safety perspective, the carrier will usually not under write a policy or will only do so with VERY high deductibles.
Following Best Safety Practices
Given this difficult (and expensive) work comp environment where good safety practices are even more important. I found this article from the American Staffing Association’s Staffing Success Magazine to be very instructive for staffing company owners.
— — http://www.asa-digital.net/amstaffingassoc/september-october_2013#pg24
If you are in the process of becoming, or have become, a “best in safety class” staffing company, and are looking for lower comp rates, Work Comp Staffing Solutions can probably find a lower cost workers compensation program for you today. Please feel free to contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com to discuss your particular workers compensation situation.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Oct 28, 2013 | News, Workers Comp, Workers' Compensation Insurance
America is often referred to as a melting pot of ethnicity’s. This diversity, which is a great source of strength for our country and economy can also cause specific challenges in the workers compensation universe. Especially in regards to claims management.
Different cultures may respond to back to work policies in a unique ways. This is not to say that one culture may respond in a better way than another culture– just differently. This is an area worth pondering as we work closely with our injured employees to nurse them back to being productive workers after an accident.
Here is a great article that goes into some detail about this very interesting topic.
— http://www.workerscompensation.com/compnewsnetwork/from-bobs-cluttered-desk/17660-the-ethnic-factor-in-workers-comp.html?goback=%2Egde_1328307_member_5796956561800704004#%21
If you are interested in discussing your workers compensation back to work program, contact me at davidstaffing@gmail.com and visit us at www.StaffingCompSolutions.com. We would also be glad to chat about your current workers compensation program and provide you with a free workers compensation quote
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
by David Schek | Oct 23, 2013 | Healthcare Insurance, News, Workers Comp
All funding sources regardless if they are commercial banks, private equity, or asset based accounts receivables firms, desire as much certainty as possible in the businesses they finance. Unfortunately as we have been finding out, the ACA has added a great deal of uncertainty to many areas of the staffing business — especially in the area of margin optimization and back office management. Most likely these ACA pricing vagaries will impact our industry over the next few years since we will not be able to predict true costs of our temporary labor, and hence our net profits. All this potentially may hamper your relationship with your funding source.
Here is a great short article about how the unknown costs of ACA on the labor market is negatively implanting business in general and staffing specifically,
http://blogs.wsj.com/cfo/2013/10/15/health-law-stirs-lending-worries-for-small-business/
—
All this also means that where workers compensation and back office expenses are concerned, partners that can bring more stability in your cost model, will provide a much higher value for your staffing company in these areas.
Please feel free to contact me at davidstaffing@gmail.com or visit us at www.StaffingCompSolutions.com so we can discuss options in this area.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
StaffingCompSolutions.com—- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
by David Schek | Oct 16, 2013 | News, Staffing Company
Before I stared in Work Comp Staffing Solutions in 2007, I grew sales in my own staffing company from 3M to 25M in about 6 years. I was able to leverage a 75K investment in my company to generate these results.
I did this by recruiting and developing sales relationships with “Affiliates” though out the country. My Affiliates were commissioned sales people who developed their business in a synergistic way with our business. The Affiliates performed sales functions, and my company performed all back office and marketing support functions for the Affiliate’s business. Some of our 60 Affiliates built million dollar staffing branches.
Now Work Comp Staffing Solutions would like to share this very profitable sales model with you. Your Affiliates can operate within your current market (leveraging your current branch-staffing personnel), or they can be set up in markets where you would like to expand to.
Please feel free to visit out Affiliate web page at https://StaffingCompSolutions.com/Work Comp Staffing Solutions-affiliate-program/ to find out more details or contact me at davidstaffing@gmail.com to learn how Work Comp Staffing Solutions can help you build your Affiliate program and increase your sales.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
StaffingCompSolutions.com —- Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
by David Schek | Oct 2, 2013 | News, Staffing Company, Workers Comp, Workers' Compensation Insurance
Designed Specially For You By a 25 Year Staffing Industry Veteran. Our New Program’s Benefits Include:
- National Coverage
- Pay As You Go
- Light Industrial Codes Covered
- No Deposit/ No Deductibles
- Payroll Financing Available
* Very Competitive Rates*
Plus this month we are offering a $50 Starbucks Gift card when you receive a FREE workers compensation quote.
Contact Work Comp Staffing Solutions at www.StaffingCompSolutions.com or me directly at davidstaffing@gmail.com.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
StaffingCompSolutions.com — Workers Compensation Specialists and Staffing Business Consultants For Over 20 Years.
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