Why Do You Need Group Rating?  -  Over the past few years, the Bureau of Workers’ Compensation (BWC) has awarded many discounts and a rebate to employers on their workers’ compensation premiums. This may have made your premium seem much lower and even an insignificant cost to doing business. However, there is no indication that the premium discounts will continue. In fact, due to a lawsuit, the premium discount for the last half of 2000 was actually cancelled. Therefore, the full amount of your premium owed was 300% more than what you pay with the discount. It is extremely important for you to take control of your workers’ compensation savings through group rating.

Group Savings  -  Some group rating programs boast that employers can “save up to 95%” on their workers’ compensation premium. While a 95% savings is the maximum BWC allowable group savings, only a few groups achieve this savings in reality. In fact, only 11% of the over 70,000 companies who participated in group rating last year achieved a 95% discount. Most group rating programs save employers an average of 40-80%.

Administrative Fees  -  Another consideration when choosing a group rating program is the administrative fee charged by the group administrator. Many groups charge a high administrative fee only to make a profit, rather than to offer a solid benefit to their members. However, AGC offers a group rating program with not only a competitive administrative fee, but also excellent service. The quality of the group plan administrator is important because administrative fees not only allow you to be part of the group, but they also purchase services from the group administrator. These services may include claims administration, rating analysis, and hearing representation.

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