(Q) Why is there such a rate disparity between carriers?
(A) Certain Workers’ Compensation (WC) insurers specialize in writing WC for dental practices and therefore want to insure DSO’s/Group Practices and therefore price them aggressively to get their new business. DSO Advantage is proud to represent the leading WC carriers in the DSO/Group Practice marketplace. New and renewal rates vary widely between WC carriers. Remember, you’re the customer and your agent works on your behalf to find your company the best option. Working with an agent that specializes in insuring DSO’s/Group Practices WC is in your best interest.
(Q) What is your renewal date?
(A) Knowing your WC renewal date is very important because of the lead time needed to get a competitive quote from another agent/carrier. Suggested lead time is 90 days since these are annual contracts. While 90 days is the suggested lead time the team at DSO Advantage can work closer to your renewal date, if needed.
(Q) Insurance is state regulated so do you know the laws of those states where your DSO operates?
(A) As the employer you need to have an agent who works in multiple states and understands the complexities of the rules and requirements.
(Q) Is your WC premium paid monthly and is your Payroll/HR integrated with the WC insurancecarrier?
(A) Integrating WC with your payroll vendor is one way to minimize a large year end audit. Many DSO’s/Group Practices grow at a rapid pace through M&A’s and therefore WC and payroll integration is an important concept. DSO Advantage’s WC carriers can integrate with most payroll/HR vendors.
(Q) Are your Owners and Officers included or excluded from coverage on your WC policy?
(A) Many practices are not sure, while some choose to exclude their Owners and Officers. It is important to take many things into consideration prior to making this decision. Let the professionals at DSO Advantage help guide you through this critical decision.
Do you want a quote from DSO Advantage? If so: if the practice premium is under $25,000 annually please refer to #1 & #2. If your annual premium is over $25,000, please submit the following information for a quote:
1.) Declarations Pages of current policy(ies) to include: Name, Address(es), FEIN(s), Payroll, Class Code(s).
2.) Are officers and owners included or excluded from coverage? Yes / No / Not Sure
3.) Claims History, 3 years of Loss Runs.
4.) Historical Payroll, 3 years of Year-end Payroll numbers.
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