Workers Comp Audits

All businesses that carry workers’ compensation insurance must complete annual premium audits. Workers’ compensation policy premiums are based on estimates provided at the time the insurance application was submitted. At the end of the annual policy period, a final premium audit is completed to determine if the appropriate premium was paid. A final premium audit is based on actual payroll, operations, and classifications for the expired coverage period.

• Online Premium Audit functionality is available for CUSTOMERS within EACCESS:
  Employers policyholders log into EACCESS and navigate to My Premium Audits

Help your customer be prepared by providing them with this list records required:

• Payroll summary or similar report for the dates of your policy
• Employers Quarterly Federal Tax Return Form 941 or 943 reports
• State Employer’s Quarterly Unemployment Insurance Tax Reports
• Federal 1099, W2 and W3 transmittals
• Overtime wages summarized by classification
• List of clerical employees and duties
• Contractor / Subcontractor records

Employers has an extensive list of FAQs related to Workers Comp audits, check them out here:
https://www.employers.com/resources/faqs/premium-audit-faqs/

Learn more about Workers Compensation Insurance provided by Thimble:
https://www.thimble.com/workers-compensation-insurance

February 06, 2025 23:14