WCF has more than 100 years of extensive workers’ compensation experience, knowledge, and resources.
Our claims services bring together experienced adjusters and sophisticated systems with preferred provider networks, prescription drug discounts, provider bill and utilization review, medical case management, and vocational rehabilitation services, when appropriate. This combination gives injured employees a solid foundation of care and support to foster a quick recovery. It also allows our policyholders to participate in controlling claims costs.
Our partnership with local hospitals and clinics gives our customers’ employees access to the finest medical care in the region. With nationally recognized doctors and state-of -the-art facilities, our providers offer our injured employees high-quality care close to home.
Workers’ compensation insurance fraud costs Americans $5-$6 billion each year. That’s money from the pockets of honest employers and employees. Fortunately, WCF’s Special Investigations Unit works diligently to discover fraud.
Returning injured employees to productive work in a timely manner is cost-effective for the employer and boosts employee morale. Our certified counselors work with employers, injured workers, and physicians to confirm work capabilities and assist with job modifications
Coordinating medical care is critical to control costs while providing quality care. Our nurse case managers evaluate each injured employee’s circumstances and coordinate care to help in their recovery.
Our Safety and Loss Prevention Department offers a variety of loss-prevention services, including safety and health audits, program assistance with general safety, substance abuse prevention, safe driving practices and OSHA-required programs.
We look at every submitted bill along with any doctors’ notes to ensure payments are made correctly. We also provide training within the medical community on workers’ compensation billing procedures.
SAFETY ASSOCIATION DISCOUNTS
We provide workers' compensation coverage to a wide range of industries and businesses. We also have unique safety partnerships with local industries and associations.
WHAT IS WORKERS' COMPENSATION INSURANCE?
A workers’ compensation policy addresses medical care and lost income for injured employees, fatality benefits for families of workers killed on the job, and your potential liability for covered claims.
Coverage is divided into two categories: (1) workers' compensation insurance and (2) employer's liability insurance. Workers' compensation insurance covers medical expenses and reimburses employees for wages lost as a result of work-related accidents. Employer's liability insurance protects employers from lawsuits brought against them by employees who were injured in job-related incidents. As with all types of insurance, there are some conditions and exclusions to both.
WHO NEEDS WORKERS' COMPENSATION INSURANCE?
Most state laws require that business owners who have employees must have workers' compensation insurance. Each state has different requirements. To learn more about your state's requirements, please contact WCF Insurance or your agent.
HOW MUCH IS A WORKERS' COMPENSATION POLICY?
The cost of a workers' compensation policy depends on several factors, including:
- Business location
- Business size
- Your payroll
- Type of work
- Claims history
Rates vary across businesses because workers’ compensation is calculated a little differently than most other insurances and is regulated by state. The best way to get an accurate estimate for your business is to get a quote.
While there's not a universal workers' compensation rate, it’s important to learn the things that can affect your premium and what you can do to secure a more affordable rate.
WHAT DO I INCLUDE IN PAYROLL?
Reported gross, not net, payroll must include:
- Retroactive wages
- Commissions and draws against commissions
- Stock bonuses or purchase plans
- Holiday, vacation, and sick pay
- Statutory insurance or pension plans
- Profit sharing and incentive plans
- Hand/power tool allowance (see exclusions)
- Value of rental house or apartment provided for employee
- Meals and lodging received as part of pay
- Store merchandise, certificates, or credits
- Employee payments to cafeteria (IRC 125), retirement, or savings plans
- Davis-Bacon Act wages
- Annuity plans
- Any expenses not incurred as a valid business expense
Other forms of payroll are excluded, including:
- Employee tips/gratuities
- Group insurance
- Pension plans
- Active military duty
- Severance pay except for time worked and accrued vacation
- Employee discounts on purchased goods
- Reimbursed expenses and flat expense allowances, except for hand/power tools
- Supper money for late work
- Uniform allowances
- Third-party sick pay
- Invention and discovery rewards
- Employer-paid perks, such as car, airline tickets, incentive vacation, club memberships, property or service discounts, and event tickets
- Employer payments to employee retirement, savings, cafeteria (IRC 125), or salary reduction plans
- The premium portion of overtime wages