The cost of an employer’s workers’ compensation insurance is based on an estimate of the payroll for the upcoming coverage period. Estimated payroll is placed in the classification code that best describes the work of the employee. When the coverage period is over a payroll audit is completed to determine the actual payroll, by classification, during the prior coverage period.
Our payroll audit team works with the employer to gather the information necessary to complete the audit. The audit is completed using the guidelines established by a national workers’ compensation bureau. The cost of the workers’ compensation insurance is then adjusted if needed on the Final Audit Bill.
In addition to working on the final payroll audits our experienced audit team works with employers throughout the year to answer questions or discuss issues that may arise related to payroll estimates or classifications.