Abstract
Most employers have the ability to profoundly influence their workers' compensation costs. The best workers' compensation plan for any particular employer will depend on individual circumstances; but achieving the best plan requires careful evaluation and informed judgment. The state in which an employer operates is a key factor in determining the cost of workers' compensation insurance, given the dramatic difference among states in wage replacement benefits and the resulting effect on costs. Many employers cannot easily move operations to a state with lower workers' compensation costs, but they can control their costs through a number of other means: by choosing the most appropriate type of coverage, selecting the right insurer or third-party administrator, carefully negotiating different options for their specific situation, and implementing loss control programs.
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