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Keeping Workers´ Comensation Cost Down Page 2
2. Conduct a payroll audit
Your workers' comp premiums are usually based on your regular payroll figures, excluding overtime. Most states allow you to deduct overtime pay to straight time for the purpose of figuring your payroll.
3. Use a deductible
Using a deductible can lower your premiums by as much as 25%. 27 states permit employers to reduce their workers' comp premiums by paying a deductible - usually somewhere between $100 and $1,000. Contact your state insurance office or your insurance broker to find out if you can use this money-saver.
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