Workers Compensation Audit Tips -3-Things You Need To Know
No matter how long you have been in business, Workers Compensation Audit Tips might help to answer any questions you may still have about the process that takes place once a year.
What Is A Premium Audit & Why Is It Required?
Workers compensation policy premium is based on payroll estimates. At the end of any policy period, a premium audit is conducted to determine if you paid the appropriate amount for your workers’ compensation insurance based on your actual payroll, operations and job classifications.
How Does Enforce Assist In Conducting Premium Audits?
We are confident you will find our simplified audit process to be fast and convenient. At Enforce, we assist in helping you complete your audit accurately & in a timely fashion.
The type of audit you receive usually depends on a few factors. The size of your policy, the industry in which you operate, and the physical location(s) of your business. You will receive a letter requesting payroll records for your company from the carrier.
At that point, you would send Enforce all of your documents. This may include, but not be limited to Quarterly Federal Tax Returns (941s), state unemployment forms and payroll journals. Once you send the requested documents to Enforce, we will put together what we call an Audit Tool-Kit. It’s a booklet that just needs to be handed to the auditor, all of the work is done prior, as a result, all you have to do is breathe easy!
What If I Disagree With The Past Premium Audit Results?
To request a review of your final premium audit, please provide a written request and be sure to include the reason for the dispute, any supporting facts and/or documents, your contact information, and an ideal day and time so one our representatives can contact you.
Feel free to contact us directly with any questions or concerns that you may have!