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 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 9, 2013 | Staffing Company, Workers Comp, Workers' Compensation Insurance
A temporary staffing firm says it will pay up to $10,000 in reward money to employees reporting co-workers they suspect of committing workers compensation fraud.
AtWork Group, a Knoxville, Tenn.-based staffing company franchisor, says it is putting up 3-foot-by-4-foot reward posters in its branch locations announcing the offer.
The company hopes the reward money and posters will serve as a psychological deterrent to “alarming trend” of workers comp fraud, said Jason Leverant, AtWork Group’s chief operating officer.
“We believe our program will not only make it easier for employees and others to report suspected workers compensation fraud, but by offering a financial reward, we will see a reduction in the number of fraudulent claims filed by workers each year,” Mr. Leverant said in a statement.
But the reward offer from comes with terms and conditions that must be met. For instance, the amount of reward paid out will depend on the successful prosecution of a perpetrator and the monetary amount of their fraud.
Employees who want to remain anonymous when reporting fraud, rather than publicly helping with a prosecution, would receive less money, Mr. Leverant said.
With the company’s insurance costs increasing, deterring fraud is a way to promote savings, Mr. Leverant said in a telephone interview.
— This information was originally reported in Business Insurance Digest- 2013.
If you have a creative idea for reducing workers compensation fraud please let Work Comp Staffing Solutions know and we would be glad to share it in our Staffing Workers Compensation Blog. In the meantime, please contact me at davidstaffing@gmail.com or www.StaffingCompSolutions.com for a quote on your staffing workers compensation insurance.
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.
by David Schek | Sep 24, 2013 | News, Professional Employer Organization (PEO), Staffing Company
At the recent national Professional Employer Organization (PEO) conference in San Antonio, 2 economists who have published their research in the Harvard Business Review (Laurie Bassi and Daniel McMurrer) presented their paper highlighting the benefits of using a PEO for small businesses. Since most staffing companies are small businesses, PEO’s make tremendous sense as a way to decrease back office and workers compensation expenses.
PEO’s allow you to operate very efficiently and maximize your limited resources to stay competitive.
Their study points out that small businesses that use a PEO have a 10% higher growth rate and experience 21% savings in back office expenses than other small business. The economists, Ms. Bassi and Mr. McMurrer, also indicate that 250,000 companies with 6 Million employees currently utilize a PEO in their businesses.
I encourage you to read this interesting article and then contact me for a FREE PEO quote at davidstaffing@gmail.com or 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.
