Employee Leasing Quotes : PEO Blog

California work comp insurance could be on the rise - again. The Workers’ Compensation Insurance Rating Bureau (WCIRB) made it official and submitted a mid-year filing for a 9.1% increase in the pure premium advisory rate that Insurance Commissioner Dave Jones approved less than six months ago.

http://www.wcexec.com/WCIRB-Files-For-91-Rate-Increase.aspx
EmployeeLeasingQuotes.com

Employee Leasing (or PEO services) is one of the fastest growing outsourcing services nationwide. California employers are seeing the benefits of big savings on workers’ compensation insurance costs.

Within the last thirty days, we’ve helped a construction company, two arborists and a staffing company save a total of $127,000 compared to their previous work comp insurance providers.

Some of the benefits a California PEO service will provide include:

• No deposits, no AUDITS, no surprises.
• An easy to understand labor cost for all your employee classifications, making it easier to bid jobs.
• Shifting of liability. In this coemployment relationship, they have a stake in your workers’ comp safety and preventable accidents because it’s their policy too. They manage work comp and unemployment claims, provide safety help with ideas and direction.
• Professional human resource services. Instead of paying for an in-house HR professional, your sharing several HR pros with other companies. In today’s world, employers need help with questions regarding proper hiring and firing techniques, how to reprimand or writeup employees to avoid future problems. There’s also governmental compliance issues that they keep you informed of and supply necessary material when needed.
• Time savings. All of the above take an extreme amount of time for someone or many to deal with every year and it’s all work that generates absolutely no income for a business - that’s why people outsource this stuff. This should free you up to work on more things that do create revenue.
• Utilizing the California PEO service for a lower state unemployment rate.

A 30% increase in California workers’ compensation insurance! That’s somewhere in the ballpark says Dave Bellusci - chief actuary for the state of California workers’ compensation insurance review board.

WCIRB says the current calculation does not include a separate element for the impact of the Almaraz/Guzman and Ogilvie decisions, as it is assumed that the impact of those cases is already in the underlying data. The WCIRB is sticking to its previous story and continues to peg that impact at 5.8%.

California’s high workers’ compensation insurance rates have created a feeding frenzy for the PEO and Employee Leasing industry in the past few years. With discounts of up to 40% or more compared to California’s state fund rates, we’re seeing a huge increase in the California market - and employers are desperately searching for help.

Savings on group health care insurance premiums and reducing increased governmental compliance issues are just a few of the other advantages of a California PEO service.

Mike Burgelin
www.EmployeeLeasingQuotes.com
1-888-582-8388

Since early May, dozens of California workers’ comp carriers have filed for increases, ranging from single digits to a high of 33.9 percent.
In fact, 55 of 71 companies filing on or after May 1 proposed rate increases, with 32 of those increases 8% or higher. The State Fund, which holds about 23% of the market and insures an estimated 180,000 small businesses, filed for a 15 percent increase.

Click here for the full story. http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/07/06/story13.html?b=1246852800^1855498&ana=e_vert