Workers’ compensation administration services are one of the comprehensive services offered by PEOs or Professional Employer Organizations. Workers’ compensation refers to a type of insurance that involves providing medical care reimbursement for employees who have been injured while working in an organization. This is provided in exchange for the employee relinquishing the right to carry out legal action against the organization for negligence. Workers’ compensation sometimes has a flexible administration, as a disability insurance, health insurance or life insurance.
Companies outsourcing their workers’ compensation administration to PEOs can experience multiple benefits. As is the case with all HR responsibilities that are outsourced, PEOs take care of all the processing and paperwork involved, handling insurance audit claims and also maintaining OSHA records and all other necessary records and documents. PEOs also enable their client companies to choose from multiple coverage options, and this is easy since they have strong associations with multiple insurance providers. Client companies are therefore offered competitive rates that would add to their profitability. The workers’ compensation administration services offered by PEOs generally include:
PEOs enter into a co-employment relationship with client companies, taking over the employer responsibilities and managing the risks while the employers control their employees at the workplace. Along with workers’ compensation administration services, PEOs administer employee benefits, provide payroll services, offer innovative recruitment and selection solutions, ensure regulatory compliance, manage employer liability, and more. A PEO helps employers concentrate on improving their business operations, while it leaves no stone unturned in efficiently carrying out the HR tasks.
Kruse PEO, an Oklahoma based PEO Company offers comprehensive payroll services and workers’ compensation administration services including workers’ compensation claims management service, workers’ compensation reporting and much more.