Demystifying Workers’ Compensation How A PEO Can Lower Your Rates
Demystifying Workers’ Compensation Insurance Premiums and How a PEO can Lower Your Rates Workers’ compensation premiums can amount to a substantial proportion of many small- and medium-sized businesses’ staffing expenses, particularly those where injury risks are higher. The deceivingly straightforward formula for calculating premiums is: Workers’ Comp Premium = Classification Code Rate x Payroll (per $100) x MOD But the complexity within each factor means many businesses overpay on their premiums. An experienced Professional…