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We’ve all been there. “These wires are live and I have no idea where the breakers are in this old building… this ladder is just too short… this blade guard is in the way and really slowing me down…”
I know what you’re thinking. Don’t do it. Even if someone else on site wants you to.

Core wants you to be healthy: physically, mentally and financially. Thank the company by working safely. Unsafe choices cost the company BIG money. Let’s talk about worker’s compensation insurance.

Montana law requires employers to have worker’s compensation insurance. It protects employees from injury related medical costs and lost wages for missing work while injured. Companies pay for every penny of it (called “premiums”) and get insured through:

Self-insurance
Private companies
Montana State Fund

A company has to have a lot of money in the bank to self-insure. Costco self-insures. Core does not. Recently Core’s private insurance company fired us. It isn’t a big secret; it happens all the time to small businesses. It tends to happen from a lot of claims. So that leaves Core with option #3: Montana State Fund (MSF).

“These wires are live and I have no idea where the breakers are in this old building… this ladder is just too short… this blade guard is in the way and really slowing me down…”

We’ve been paying Liberty Mutual about $1800 a month. MSF isn’t allowed to fire us. Instead, they classify our business by industry, our employees by job function, and take a look at our history of injuries. Then they tell us what we have to pay. Our business is inherently dangerous. However, the less accidents we have, the less we pay.

If we’re really safe, MSF sends us back some of our money – up to 8% of our annual premiums. Safe choices = less injuries = $ for Core. But that is just one set of rough numbers. In a future safety update we’re going to show you the specific MSF numbers for Core. Cost of insurance is one consideration. The time lost having you at work, producing, is even more troubling.

If you want to learn more about the history and structure of worker’s compensation insurance check out Montana State Fund’s Consumer Guide.

“The average wage-loss claim in Montana costs about $60,000, although the most catastrophic of claims can cost several millions of dollars. About 70% of workers’ compensation claim costs are for medical services… rising 6% per year.” – MSF Consumer Guide

Author: corecontrol
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