It’s always a challenge when we’re contacted by a small employer who has received a surprisingly large audit bill. They don’t know where to turn, they don’t think they can afford it, but they know they need help. Not a day goes by that we’re not contacted by a small employer with this problem….
The receipt of a large workers compensation audit bill can be devastating to a small employer. Just imagine you receive a bill for $7,000 or $10,000, seemingly without warning, and it’s due in just a few days. Large companies may be able to handle a surprise situation like this but most small employers would find it a trying burden at best. Most certainly a surprise leaving the employer scrambling around to find out what happened, trying to find answers and quickly figure out what they can do. This usually begins by a quick phone call to their insurance agent who in turn contacts the insurance company and is assured the audit was completed correctly, is accurate and the premium is due within 10 days…the result…really no help at all!
And while the employer tries to figure out what happened and how this occurred…the audit bill clock is running. Next thing you know the employer receives a past due letter from the insurance company accompanied by a cancellation of their current coverage. All of a sudden the employer realizes they need professional help. Some call an attorney, others contact consultants…like us…who specialize in workers comp premium issues. All look for someone that will help make their problem go away. All have the same question in mind…”Can I really afford the help I need?”
We find most small employers are intimidated when it comes to asking for professional help in dealing with a workers comp audit problem. Most professional audit consulting firms provide a valuable service at very reasonable, affordable levels. You may be surprised!
Lesson Learned: While it’s certainly a difficult situation for a small employer…faced with a large bill and trying to find help…affordable help is out there…you don’t have to go it alone!