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Money-Saving Strategies for Workers' Compensation

Posted on Feb 02, 2010

The owner of an asbestos-removal company in New York was sentenced to prison for failing to pay workers' compensation premiums. His crime? Classifying crew members as independent contractors rather than employees, avoiding payment of more than one million dollars. Fortunately, there are ways to save on workers' comp expenses that don't involve dodging obligations. How? Cultivate "safety" -- many managers report reducing workers' comp costs by taking a close look at their environment, identifying potential hazards and implementing safety precautions.