What does Workers’ Comp Insurance Do?
Jackson Insurance Journal
You work hard to provide a safe, secure work environment for your employees to perform to the best of their ability. Even in ideal circumstances, accidents and illness can occur. A slip and fall at a restaurant resulting in a broken bone, an equipment malfunction at a construction site causing an eye injury- numerous things can occur that can cause an injury to an employee. If something unexpected should happen, it’s essential your employee’s medical needs are quickly addressed.Farmers through Jackson Insurance Services can help you to create a worker’s compensation insurance solution tailored to the specific needs of your business to help you plan for the future.
A Farmer’s policy covers employee injuries and illnesses that occur in the course of employment with your company. Workers’ compensation coverage is a state-mandated insurance program that covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. The benefits are paid according to the laws of your state, and include services needed to help an employee recover and eventually come back to work. Some highlights of Jackson Insurance Services include:
PREFERRED PROVIDER ORGANIZATION
Farmers has a extensive network of industrial clinics,physician specialists and hospital committed to providing excellent treatment while managing costs. In states where employers may have some control of employees’ medical treatment for work-related conditions, direction of patients to these providers can yield significant cost impact.
Physicians and nurses use the latest in computerized medical guidelines. They review treatment plans, including the necessity of hospital admissions and lengths of stay.
EARLY RETURN-TO-WORK PROGRAMS
Bringing employees back to work as soon as medically feasible save substantial sum in temporary disability payments and retraining costs.
PROVIDING EDUCATIONAL MATERIALS
Designed to educate employees on workers’ compensation safety programs and help reduce the likelihood of an accident or injury occurring.
Every bill is reviewed for appropriateness of treatment, pricing, discounts and billing overlap. This saves companies millions of dollars every year.
REDUCED CLAIM EXPENSES RESULT IN INCREASED PREMIUM SAVINGS
Workers’ compensation premiums and rates are based on claims experience. Lowering your cost of claims and improving your loss experience may reduce your net cost.
COORDINATED EFFORTS LEAD TO BETTER OUTCOMES
Effective management of care and a solid return to work plan can help to strengthen relationships with employees which may result in less litigation and employees that are back to work sooner and more satisfied with their overall claim experience and workers’ compensation benefits.
Claims management can be one of the more complicated facets of workers’ compensation insurance. The good news is yiu do not have to go through it alone. Farmers Workers’ Compensation can quickly and efficiently deliver benefits at a fair cost and help reduce the risk of legal non-compliance and/or a lawsuit.
FARMERS FOUR-POINT CONTACT PROGRAM
When Farmers receives a workers’ compensation claim, an experienced representative is committed to committed to receiving your first notice of injury of the claim 27/7. The employer, the injured employee, the physician and Matt Jackson along with his experienced team at Jackson Insurance Services will contact and coordinate the necessary medical care with one business day after the injury is reported. Our prompt four point contact program ensures that necessary medical treatment authorized immediately and the investigation of questionable claims begins early on. Throughout the process of a worker’s compensation claim, Farmers is there for you to help minimize the impact on your business.
THE “HIDDEN” COSTS OF WORKERS’ COMPENSATION CLAIMS
The direct costs associated with workers’ compensation claims-such as medical and indemnity expenses- are covered by your workers’ compensation policy. But what about indirect, or hidden costs? These costs need to be considered, as their impact on the cost of a claim can quickly add up. These indirect cost include:
Time lost form work by injured employees
Time lost by supervisors to investigate accidents
Economic loss to an injured employees’s family
Time lost by fellow employees
Cost of training replacement
Loss of production
Farmers Workers’ Compensation insurance can help reduce or eliminate these hidden costs by educating employees through workers’ compensation safety programs and working to bring employees back to work as soon as medically feasible.
WHAT CAN YOU DO TO HELP REDUCE CLAIMS?
You can take steps to reduce the hidden costs insurance doesn’t cover by implementing an accident-prevention and loss-control program. An effective safety program can also help lower direct costs, including insurance premiums, compensation and deductibles.
Employee training and education is an important component of a workplace safety program. Ask a trusted employee to be responsible for inspecting your premises and reviewing operations monthly. Also ask each employee to identify and eliminate workplace hazards. You should record this information to evaluate your company’s progress in hazard detection and correction.
DON’T PUT YOUR BUSINESS AT RISK
Workers’ compensation insurance offers coverage specifically designed for hazards that could affect the operation of your business. That’s why Farmers Workers’ Compensation claims representatives handle only workers’ compensation claims, reviewing medical expenses, facilitating the employee’s return to work and managing legal expenses. Our relationships can help you customize your coverage-minimizing the gaps and avoiding costly duplication-so you can safeguard your business with an insurance program that you tailor to your needs.
Matt Jackson is ready to help and answer any questions you may have. Contact Jackson Insurance Services today, because the more you know, the better you can plan for what’s ahead.
Our medical and disability-management program includes a Preferred Provider Organization consisting of occupational physicians, urgent care centers and hospitals. Under the supervision of physicians, nurses use the latest in medical guideline software to review proposed treatment and hospitalization plans to help eliminate unnecessary treatments and associated costs. All bills are reviewed before payment for correctness of charges, treatment provided and application of discounts, saving our customers millions of dollars in incorrect charges every year.