Pinnacol Assurance releases 2007 rates

The largest worker’s compensation carrier in Colorado, Pinnacol Assurance released the 2007 rates earlier this month. Did you find your rates moving upwards or your discounts slowly disappearing. Many companies do not take advantage of the discounts that Colorado has in place for small business. Some of the work comp discounts are simple to get others take a little more work from management and owners. Do you have a designated medical provider selected for when an employee gets hurt? Do you have a return to work policy in place to help employees re-enter the workforce. Have you ever tried to start a cost containment program?  These are all area that can benefit small business.

As Colorado’s leading PEO we have helped clients realize these benefits. If have questions on how to implement these programs contact StaffScapes and learn more about our programs and how they have helped business save thousands. We can be reached at 303-549-1860 or info@staffscapes.com

How can I make a work comp audit easy?

StaffScapes recently received a brochure from our Workers compensation provider Pinnacol Assurance. It got me thinking about the time we spend preparing for our Audit for all our clients. In a normal year we spend over 60 hours preparing ever year for our audit. Over the years we have we have fine tuned how we go about it and we always have a few suggested documents ready and available for the Audit. The suggested documents to have ready are:

Unemployment Insurance Tax Reports (UITRs)

941 Federal Tax returns.

Payroll records for the audit period

All subcontractor payments

Proof of Workers’ Compensation for subcontractors

Another thing to keep in mind is Overtime pay. Comp payments are not calculated on the full overtime pay rate. So it is a good idea to have detailed records of all overtime payed to employees during the audit period. This can save a company money by having good payroll records. The second and for some builders and companies that use subcontractors is proof of coverage from that Sub or contractor. If you can not track down proof of coverage for the time the contractor worked for you, you can be liable for the work comp premium. Most contractors have a policy so make sure you request it from them before work begins.

The above are just a few of the steps that StaffScapes takes in preparing for a Audit. As a Professional Employment Organization, PEO, we can show you how our programs have helped businesses like yours save thousands.  We can be reached at 303-549-1860 or info@StaffScapes.com.

See Also

• Pinnacol - Auditing Your Policy
  Recommended Audit information by Pinnacol Assurance

Buying a business requires a thorough do-diligent list and the last thing you probably want to do is add yet another deal breaker.

At StaffScapes, we are an Outsource Human Resource company locally in Colorado that must gather a lot of detailed information and hidden costs for an accurate proposal.

One of my past prospects’ now a current client, was having trouble getting the Workers Compensation Declaration Page from the seller of the business prior to the sale of the business. Once explaining the importance of reviewing the workers compensation Declaration page my prospect finally demanded to see a copy.

After reviewing the Workers Compensation Declaration Page with our prospect what we found was that the current workers compensation rate had a modifier of 1.25. That 1.25 modifier was adding an extra 25% to the premium this year. In addition to the modifier we also discovered that the current employer did not have any safety programs in place as well as multiple injuries in the past years that will increase his rates significantly each year at renewal. Estimating what the new rates where going to be at the next renewal date, our prospect was able to negotiate a 25,000 difference in the purchase of the business which would have been added as an unforeseen future expense.

As a local Colorado PEO, StaffScapes helps our clients stay in compliance as well as and manage the risky life cycle of having employees.   

Pinnacol Assurance independent contractor form must be completed before any work can begin by the sub or contractor.

Many employers use Pinnacol Assurance as their provider for Workers compensation in Colorado. Actually more than 60% of Colorado employers us Pinnacol Assurance. With that many employers using one career they have developed certain rules about using Independent Contractors or subs to complete projects. If you hire a sub to work at your site or to do work for you you must request a workers compensation certificate of coverage from that Sub. If you hire a Independent Contractor you must either have a certificate of coverage or have them complete the Independent contractor form that Pinnacol Assurance requires and must approve.  Many employers to not understand that the independent contractor must be approved by Pinnacol before work can begin. If they are not approved your company will be liable for all work comp premium related to that Independents contractors income.

When completing the Independent Contractor form be sure to have it notarized. One common mistake is that both the Independent and the employer needs to sign it in front of a notary. Once the form is completed it must be turned into your work comp underwriter and returned before work begins. Hopes this helps you understand the world of work comp a little more. As a Colorado PEO we work with and understand workers compensation in Colorado. To learn more contact StaffScapes at the number above.

See Also

• Independent Contractor Form
  Pinnacol Assurance Independent Contractor Form

The Denver/Boulder Better Business Bureau and Pinnacol Assurance invite you to join them at the quarterly safety seminar, June 14, 2007, 1:30-2:30 at Pinnacle Assurance.

SAFETY NOW, SAVINGS LATER

It is easy to overlook safety and all of the paperwork that goes with it when most of the time nothing happens anyway. But, what about those surprise accidents that occur on the job? If you don’t have an action plan and list of procedures readily available, it can be very costly to your organization.

Topics include:

·         Document requirements and creating an effective safety program

·         Written policies and procedures on claims management

·         Return-to-Work (Modified Duty)

·         Rule 6 Process

Please RSVP to Johnna Caruthers at 303.996.3977 or via email at rsvp@denverbbb.org.

Are you over-funding your workers comp policy during slow months every year?

With StaffScapes, Inc. pay as you go workers compensation policy you pay only for the actual liability that your employees incurred. Pay only for workers comp on actual hours worked not on estimated that you gave the auditor months earlier. With StaffScapes pay as you go program compensation program that has no pre payment can reduce your cost and improve the over safety program at one time.

Pay as you go Workers Compensation, Safety Programs, Payroll and HR services all in one location.

StaffScapes is a Denver based Professional Employer Organization serving small to medium sized companies in the Colorado region.

Pinnacol Assurance will continue it’s safety Seminars for policy holder through out the summer. The June schedule is:

June 10 -Understanding the workers compensation process

June 17 - Claims 101

June 19 - Domestic and workplace violence

June 24 - Safety leadership - beyond Compliance

Pinnacol survey finds customers are more satisfied then ever.

In a recent survey of customers Pinnacol Assurance received it highest satisfied customer rating in years. Pinnacol received a 9.0 out of 10 for customer satisfaction of existing clients. Customers saying that they would return gave Pinnacol a 9.3 rating.

The past few years Pinnacol has strengthened its customer service department and claims management departments. Like any large company turnover in key departments will continue to be a problem for Pinnacol.

Not satisfied with your current workers compensation carrier? Contact StaffScapes to learn more about our workers compensation policy at 303-466-7864.

Colorado’s choice for Workers CompensationIf you have listened to a morning radio show over the past few weeks you probably have heard the Pinnacol Assurance radio add. During the add they mention that Pinnacol is the choice of Colorado when it comes to workers compensation insurance. In fact Pinnacol has over 50% of the states employers and employees covered. StaffScapes uses Pinnacol for all it’s Colorado workers compensation needs and has developed a great working relationship. If you are looking to start a business in Colorado or thinking of changing coverage to Pinnacol contact StaffScapes and we can help you acquire the coverage that your business needs.

See Also

• Advantage of StaffScapes Workers Compensation Program
  Workers Compensation

New rules and new minimum wage rules can make being an employer a confusing job.

One week Colorado minimum wage is higher than the Federal min wage and the next week it is lower? What is an employer to do? On January 1st 2010 the wage will drop 1 penny below the Federal Minimum wage. Employers need to pay the higher of the two wages at the least to keep out of trouble. If you want to lower your employees wage you can but be careful about the negative effects that can have around the work site.

For help with HR, Payroll and workers compensation in Colorado give us a call at 303-466-7864