At Monarch, the goal is to deliver unique and compelling workers’ comp solutions to you using our high level of industry expertise and connections, that exceed that of the rest of the pack. Our focus is 2-fold:

1) On the labor-intensive higher risk industries, such as Staffing, Construction, Healthcare, and Transportation, and

2) On risks with work comp challenges, such as those with high emods, poor loss history, and/or cannot secure standard market coverage

UTILIZING AN ADMINISTRATIVE SERVICES ORGANIZATION TO SECURE WORKERS’ COMPENSATION INSURANCE

The Administrative Service Organization (ASO) aka Master Policy Payroll Opt-Out Program, is a premium only, all states, “A” rated, pay as go hybrid. The ASO entity has a master WC policy structure in the background but allows the client company remain employer of record for payroll and related taxes thereby obligated to perform all payroll related functions using their own systems, tax #s, and bank accounts. Detailed payroll/employee/code/state is then reported to the ASO on a pay period basis for proper WC coverage and the calculation and payment of premium to the ASO by the client company based on mutually agreed upon rates.

On the ASO side, the actual WC policy insurance coverage and claims management is handled under a master WC policy structure. As such, the client company can take advantage of the ASOs favorable WC program, lower upfront cash needed, certain loss control and other services, pay premium only on a pay as go basis for better cash flow, and not have to go thru year-end premium audits. The ASO model is ideal for mid-sized Staffing firms and other types of companies with $150k+ in premium.

ASO & PAY-AS-YOU-GO WORKERS’ COMPENSATION

The ASO uses a pay-as-you-go process, providing employers with better cash flow management. With pay-as-you-go, the client pays the premiums during an actual payroll period or monthly. This is unlike traditional Workers’ Compensation billing, which is based on anticipated or estimated annual gross payroll wages to determine an estimated annual premium, and requires an audit to make any premium adjustments based on annual payroll wages versus what was originally estimated. Pay-as-you-go can protect the business from audit surprises, and there are lower upfront down payments.

At Monarch, the goal is to deliver unique and compelling workers’ comp solutions to you using our high level of industry expertise and connections, that exceed that of the rest of the pack. Our focus is 2-fold:

1) On the labor-intensive higher risk industries, such as Staffing, Construction, Healthcare, and Transportation, and

2) On risks with work comp challenges, such as those with high emods, poor loss history, and/or cannot secure standard market coverage

UTILIZING A PROFESSIONAL EMPLOYER ORGANIZATION FOR WORKERS’ COMPENSATION INSURANCE

A Professional Employer Organization (PEO) is ideal for both small and mid-sized businesses. A PEO can be more cost-effective than hiring a full-time HR staff. For small businesses, a PEO can help keep up with the demands of managing all the HR-related activities of a growing business. At Monarch Partners Group (MPG), we can place Workers’ Compensation insurance for most distressed risks including Staffing through our carefully selected and vetted PEO programs.

PEOs provide HR services, payroll, and employee benefits as well as Workers’ Compensation coverage to businesses and their workforces. The PEO and the business entity become co-employers of record of the workforce with the PEO solely obligated to pay payroll and payroll taxes and manage and pay Workers’ Compensation claims.

For employee benefits purposes, the co-employment structure allows the business the freedom to retain or secure all or some employee benefits outside of the PEO and/or use all or some of the PEO’s benefit programs.

HOW WORKERS’ COMPENSATION WORKS WITH A PEO

Workers’ Compensation coverage is provided under the PEO’s master policy. In addition, as part of their suite of HR management services, many PEOs offer companies professional Workers’ Compensation loss control and claims management services. This can include everything from pre-employment drug tests to loss control and safety procedures, claims management of injuries, safety training, employee assistance plans, return-to-work programs, and drug-free workplace programs.

PEOs use a pay-as-you-go process with each payroll providing clients with the benefit of better administration and cash flow management.

New potential PEO clients’ needs are evaluated and underwritten by both the PEO and their Workers’ Compensation carrier, which usually takes one to three weeks to complete.