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Benefits of Workers Comp Dividend Program for Indiana Nursing Homes

Posted on: September 8, 2014 by Caitlin Morgan

Benefits of Workers Comp Dividend Program for Indiana Nursing Homes

Benefits of Workers Comp Dividend Program for Indiana Nursing Homes

Employers looking to experience real savings in Workers’ Compensation premiums can find relief in a group dividend program set up to leverage a group’s purchasing power and reward members for taking proactive loss control measures that mitigate on-the-job accidents and injuries. One such program, available through Caitlin Morgan, is our Indiana Nursing Home Group Workers’ Compensation Plan. This program offers members a dividend payout opportunity based on program volume and group losses.

Generally speaking, the benefits of a Workers’ Compensation dividend program for an employer include:

  • Participants realize a savings in premium for each claim dollar saved
  • A financial incentive for the employer to promote safety
  • Dividends can only reduce the price of a policy, there is typically no penalty to the employer for excessive or large claims other than not qualifying for the dividend
  • Dividends are determined by each individual carrier and can be quite high

In our specific program for Indiana nursing homes, we have partnered with RTW to provide an endorsed Workers’ Compensation solution for IHCA, Hope, and Leading Age members. To help members receive dividends, the program includes several programs such as customized loss prevention measures. These measures, tailored to nursing homes, improve Workers’ Compensation results by reducing preventable injuries. RTW’s also provides safety program assistance, safe behavior development, and security, among others, that reduce the frequency of injuries in an employer’s workplace.

In addition, members have access to RTW SelectRite Pre-hire Screening services, which will help employers in identifying behavioral issues among potential hires that increase lost time and claims costs at the point of injury. For example, RTW SelectRite identifies applicants who have a propensity to steal, use drugs, lie, exhibit hostility, or have an entitlement mentality.

Moreover, the average claims cost of the Indiana Nursing Home Group Workers’ Compensation program is 49% below the Workers’ Compensation industry, and the claims closure average rate is 80% faster than the industry. These results not only facilitate in getting workers back on the job sooner but also contribute to the success of the dividend-producing program.

To find out more about our Indiana Nursing Home Group Workers’ Compensation program, please contact Caitlin-Morgan at 877.226.1027. Caitlin-Morgan specializes in providing insurance solutions for nursing homes, which includes Workers’ Compensation.

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Posted in: Assisted Living Facility Insurance Nursing Home