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icy for workers’ compensation fraud. Tell your employees about the costs of workers’ compensation fraud and explain that it could lead to serious consequences. • Encourage employees to share suspicions. Creating an environment where people can speak out will help detect fraudulent behavior. • Let your claims adjuster know your suspicions. When it’s serious enough, the claims staff may hire a private investigator to conduct surveillance. This might determine a situation where the claim can be denied or fraud can be pursued.
“Workers’ compensation fraud is unfortunately common. The National Insurance Crime Bureau reports that workers’ compensation fraud costs employers over $7.2 billion annually.” 10. What are some common workers’ compensation terms? There is plenty of jargon associated with workers’ compensation insurance. Here’s a basic glossary of terms: • Accepted claim/admitted claim: A workers’ compensation claim in which the injury or illness is covered by workers’ compensation insurance. • Alternative work/light duty: A new job offered to an injured employee that gets them back to work but not in the same role they performed while getting injured. • Claims administrator/adjuster: The individual at an insurance company who handles an injured worker’s claim. • Impairment rating: The percentage estimate of how much an injury has affected the use of an injured worker’s body.
It can include physical impairments or mental impairments, and be permanent or temporary, severe or mild. • Independent medical examination (IME): A medical exam performed by a physician not chosen by the company or the injured worker. This step is typically taken after a dispute arises over the extent of an injury. • Permanent disability: Payments to an injured employee when an on-the-job injury permanently limits the kinds of work they can do and/or their ability to earn a living. • Temporary partial disability: Payments to an injured employee who can still work, but not at the same rate or level that they did before the injury or illness. These payments are available for a limited time, ending when a worker makes a full recovery. • Temporary total disability: Payments to an injured employee who is unable to work at all for a temporary period. The benefits stop when the employee can resume working. Summary Workers’ compensation insurance is an essential part of your insurance program and protects your employees and the business. It can be confusing, but it’s there for peace of mind knowing your injured employee will be cared for without paying out of pocket, which is why it’s important to choose your insurance company and broker wisely. They will support you with this process. Also, your claims adjuster is your expert at navigating the rules and requirements of effectively applying the proper benefits promptly. Work with your adjuster and contact them when you have any questions.
JOHN HARP CAN BE REACHED AT 908-604-2951 or jharp@msigusa.com
One of two jackpot Powerball tickets for the January 5 drawing was sold at a 7-Eleven in Sacramento, reported KCRA.com. The other jackpot ticket was sold in Wisconsin. The winners will split the $630 million grand prize. • C-store chain Kwik Trip is asking customers to bring their own coffee cups because of a supply shortage that is affecting many foodservice retailers, reported CSNews Online. To make up for the inconvenience, customers who brought their own cups were temporarily able to get anysize refill for just 99 cents. • Walgreens executives said the drugstore chain lost more income to theft and damaged items in 2021 than it did in 2020 and is “absorbing a 52 percent increase in shrink,” reported Business Insider. Walgreens said organized crime has played a part in driving shrink up over the last two years. • Molson Coors announced it has teamed with Coca-Cola to launch a new line of alcoholic drinks under the Simply brand. The first product, Simply Spiked Lemonade, will launch this summer in a variety 12-pack of 12-ounce slim cans this summer. • Walmart buyers are the most likely to shop on Amazon within one day of visiting one of the retailer’s stores, according to a new study by Numerator on the showrooming effect—when consumers browse a brick-and-mortar store and then buy online. Over half (53 percent) of Walmart shoppers made an Amazon purchase within a day of shopping in-store at Walmart, compared to 38 percent of both Target and Costco shoppers. • McDonald’s and its franchisees recently cut operational hours by 10 percent in response to a lack of employees at a number of its U.S. locations because of coronavirus staffing shortages, reported Fox Business. The burger chain has struggled with consistent employee attendance during the COVID-19 surge brought on by the omicron variant as infections reached record levels in the first months of 2022. • A whopping 5.4 million new business applications were filed in 2021, surpassing the record set in 2020 of 4.4 million, reported NPR. org. Over the past two years, a number of people filing paperwork for new businesses lost their jobs in the pandemic and decided to become self-employed. • Taco Bell recently rolled out a $10 monthly taco subscription service that gives customers one taco per day for 30 consecutive days, reported CNN Business. The national program, called Taco Lover’s Pass, is available to purchase for memcontinued on page 34
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AVANTI JANUARY | FEBRUARY 2022
