Our Services
Workers' Compensation
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State Fund Workers' Compensation
Claims Management
Matrix Claims Management Incorporated is a workers’ compensation third party administrator committed to proactively managing your workers’ compensation claims. From the initial filing of the claim to final adjudication, Matrix professionals will create a plan of action to control the costs of each workers’ compensation claim; saving you money while protecting your company’s interests.
One claim can drastically increase your workers’ compensation costs and even cause your company to lose its group premium discounts. Matrix is conscious of the effect claims can have on your business and identifies those with the highest cost potential and aggressively manages them to minimize their affects.
Premium reduction cannot be achieved by claims processing. It requires knowledge and skilled claims management…Nothing Less.
Risk Auditing Services
Matrix Claims Management can perform a Rating Inspection to assist your company in determining proper classification and serve as a liaison with the BWC if there is a discrepancy.
Risk Auditing Services include:
- Pre-Audit Assistance
- Rating Inspection
- Assistance with Outstanding and Lapsed accounts
- Assistance with employer accounts certified to the Attorney General’s office
Program Options
Group Rating
Companies of like industry with similar experience join together for an upfront discount of up to 53%. The discount is based on what already happened, therefore the claims that occur during enrollment year have no impact on savings.
This remains a low risk program with savings being very predictable every year. This is the most conservative choice and a good fit for employers that desire up front savings. Annual evaluation and re-enrollment required for this program, as it is based off of four years’ experience.
Group Retro
Companies of like industry are grouped together and retrospectively rated to receive a discount based on one year’s performance. There is no upfront adjustment to your premium, but a projected savings to be paid out in 12, 24, and 36 months after the time period.
There is a possibility of owing an assessment through group retro programs if the group performs badly. These assessments are capped at various levels typically ranging from 10%- 20%. Matrix groups have never been assessed.
Deductible Program
Helps employers lower their premiums by offering an upfront premium discount in the form of a per claim deductible at various levels.
The BWC will determine your level of discount based on your chosen deductible level and manual classifications. When you apply, choose a deductible level appropriate for your business. You will be responsible for claim costs up to the deductible level for any claim that occurs in the policy year of enrollment.
BWC will pay claims costs in full. You will then reimburse the BWC for any claim costs up to the deductible level you have chosen. Claims paid out of pocket at the 10k level or less also stay off of the employers experience.
Employers who select a level higher than 10k will pay claims claims costs and they will hit experience, however discounts are more significant still making the program attractive for some employers.
For Deductible Program Overview
Destination: Excellence
Destination: Excellence is a package of programs that eligible employers can select to customize their rating program to meet their specific needs. The key focus and purpose is to improve workplace safety, assist injured employee’s return-to-work, and reduce costs/premiums.
Employers may enroll in a variety of programs that offer potential discount incentives including Industry-Specific Safety, Transitional Work, Drug-Free Safety, Vocational Rehab, Safety Councils, Go Green Discount and Lapse-Free Discount.