Not Reporting Claims To The Carrier - Pay It Now Or Pay Later

The second part of the title is from the Fram Filter commercials. I had come up with four areas that I have posted to blogs and our website often on the Four (Now Five) Keys To Cutting Your Workers Compensation Costs.

When an employer delays or avoids reporting their First Reports of Injury (FROI) that employer will pay an extra 400% on their Workers Comp premiums. I performed two massive data studies using anonymous public Workers Comp data 10 years ago and then again two years ago. One of the hallmarks is that claims festering (a term I coined) costs employers big $$$.

If a claims go unreported or delayed:
Proper investigation by insurance staff cannot be completed
Medical control compromised
Access to medical and other documents can be hampered
Medical bills not process for fee schedule and PPO reductions
Injured workers’ questions not answered, feel like they are in limbo
Higher amount of attorney involvement
Fines and penalties possible
Time limit on certain defenses tolled

I could go on with the list. I think you see my point. J&L is dedicated to saving employers Workers Comp premium by using time-tested techniques. Not involving your carrier or TPA is not a Risk Management cost savings technique. It may work well in the short term, but not in the long term.

One of my PowerPoint slides says All Claims Are Set in Stone after 48 hours. I will cover that point next time. If you wish to receive our newsletter, which is a summary of the blog, sign up for our weekly email. The signup box is down the right side of the page.
From the Workers Comp blog written by James J Moore, AIC, MBA, ChFC, ARM
Principal J&L Risk Mgmt Consultants Inc.

From The Workers Comp Costs Savings Blog http://blogs.cutcompcosts.com Written by James J Moore, AIC, MBA, ChFC