Controlling Your Workers’ Comp Costs: A Guide

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GOALS OF THIS GUIDE

Incorporating the below tips in your workplace could not only reduce the frequency and severity of workplace injuries, but also reduce the rates of your workers' comp insurance. Ask your agent about them today or click through on individual items to learn more.


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TIP 1

Develop a formal written safety program

One of the first things an underwriter looks at in pricing accounts is whether your company has a written and active safety program. An elective program cannot only save money, but also makes LWCC aware of your commitment to safety.

Access LWCC’s Sample Written Safety Plan

TIP 2

Encourage a drug-free workplace and implement a drug-testing policy.‍

LWCC encourages the use of a formal drug-testing policy, signed by your employees. With a signed, written policy in place, a claim may not be paid if the accident occurs because of drug use.


Access LWCC’s Sample Drug Testing Policy

TIP 3

Implement the Second Injury Fund Questionnaire

Louisiana’s Second Injury Fund is a state-administered program that reimburses part of a claim when an employee with a permanent, pre-existing condition is subsequently injured on the job. LWCC can provide a sample medical history questionnaire for each employee to complete after hire. LWCC’s dedicated recovery unit has great success in getting claims approved and reimbursed by the Second Injury Fund. 


Learn more about the Second Injury Fund

TIP 4

Develop a return-to-work program

For companies that have well-managed, return-to-work programs, including transitional duty, a significant opportunity exists to control workers’ compensation and disability costs. For many injured workers, having modified-duty employment is a major factor in getting back to full duty sooner and in a productive capacity.


Learn more about WorkAction

TIP 5

Use in-network OMNET providers

Medical providers have a great deal of control over the lost workdays for an injured employee. Using providers in OMNET — our occupational medical network — can save you money.


Learn more about OMNET

TIP 6

Prevent and report fraud

When someone commits workers’ compensation fraud, the associated claims costs with the abuse can drive up your premium and negatively impact the experience modifier (E-mod). Our fraud team diligently pursues these claims and has a proven track record of workers’ compensation convictions. Ultimately, these efforts lower workers’ compensation insurance costs for employers across the state.


Learn more about how to prevent and report fraud

TIP 7

Report claims within an hour

The faster a company reports a workers’ compensation injury, the lower the claims costs are likely to be. Even waiting a week to file a claim can result in a 10 percent increase.

How to report a claim

More on the claims process

TIP 8

Conduct accident investigations

This will benefit your company by identifying unsafe work practices and improving procedures, which may result in fewer accidents in the future.

TIP 9

Communicate with your employees

According to studies, injured employees who don’t receive workers’ compensation training prior to being injured are more likely to seek legal help and be out for longer periods than those who are informed about their workers’ compensation benefits. Keeping in touch with an injured employee shows that you care about his or her well-being.

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