Premium Reduction

Want to reduce your premiums? WE CAN HELP.

For state funded workers’ compensation clients, there are several programs that are available to reduce rates. We strive to offer solutions that require less out of pocket cost and are less stressful to manage.

We can present each company with an individual analysis to reduce the elevating cost of workers’ compensation. Some of these programs are compatible with each other to obtain larger discounts.

Finding discounts that companies aren’t aware of or don’t know that they are eligible for and assisting in the enrollment process is part of what ECP does best.

Drug Free Safety Program

The Drug Free Safety Program offers a 3%, 4%, or 7% discount to companies who implement a drug free safety program addressing the use and misuse of alcohol and other drugs. This program requires pre-employment, post accident, and reasonable suspicion (random testing for advanced level only) drug testing.

Which companies would benefit from the Drug Free Safety Program?

This program is beneficial to employers who are looking to keep their workplace drug free as well employers who are looking to save on their premiums. This program is compatible with Group Rating (3% discount), Safety Council, Salary Continuation, and Small Deductible.

What are the Drug Free Safety Program enrollment deadlines?

Private employers – application is due by the last day of April for enrollment July 1 – June 30
Public employers – application is due by the last day of October for enrollment Jan 1 – Dec 31

$15K Medical Only Program

Employers who choose to participate in the $15K Program have the option to pay up to $15,000 of the medical and pharmacy bills out of pocket.

What type of company could benefit from the $15K Medical Only Program?

  1. Smaller employers who may be ineligible for significant discount programs due to one large claim, or several medical only claims.
  2. Large employers can benefit if they have a lot of medical only claims; no medical reserves are assessed if you are part of this program.

This program provides employers with the opportunity to reduce the impact a claim has on their experience. This program is compatible with 100% EM Capping, Group Retro Rating, Small and Large Deductible, Safety Council, and Salary Continuation.

Small and Large Deductible Programs

Deductible programs assist in lowering premiums by offering upfront premium discounts in the form of a per claim deductible. Deductible amounts begin at $500 and go up to $200,000. Restrictions apply based on annual premium.

What type of company would benefit from the Deductible Program?

Any company who is capable of effectively managing their claims and costs will see a financial benefit. This program is compatible with 100% EM Capping, One Claim, Safety Council, Drug Free, and Group Rating (Drug Free and Group Rating are only compatible with the Small Deductible Program, $10,000 or less).

What is the deadline for enrollment in a Deductible Program?

Private employers – applications are accepted March 1- the last business day in April. Enrollment begins July 1 and runs through June 30.
Public employers – applications are accepted Sept 1 – the last business day in October. Enrollment begins Jan 1 and runs through Dec 31.

Group Rating

Group rating is the simplest program to enroll and participate in, and offers one of the largest achievable discounts. Groups are formed by taking companies within the same industry with similar claims experience and placing them together. Group Rating can offer up to a -53% discount, currently the maximum allowable. Group Rating is compatible with $15K Medical Only, Drug Free Safety, Salary Continuation, Safety Council, and Small Deductible for up to the maximum discount.

Who is an ideal candidate for Group Rating?

Group Rating is ideal for companies with a safe work environment and minimal claims costs.

What is the deadline for Group Rating enrollment?

Private employers must enroll by the last business day in February for enrollment beginning July 1. You must be registered with a Third Party Administrator and Group Sponsor to enroll.

Learn more about Group Rating.

Professional Employer Organizations (PEO)

A PEO is a company that provides integrated human resource administration, such as payroll and benefits management, and risk management to its clients in a professional and cost-effective manner.

What type of company would benefit from a PEO in relationship to workers’ compensation?

PEOs can be ideal for companies who miss the Group Rating deadline, are ineligible for Group due to lapse but now current, companies who have multiple manual codes with risk limited to one of them. Learn more about a PEO.

Learn more: Commonly Asked Questions

Contact an ECP Representative today at 513-759-3151 for additional information regarding Premium Reduction.

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