Fuller Insurance Blog

Morgan Fairchild Stars In "Workers Comp" - A New Television Sitcom

Who would have thought workers comp insurance would be entertainment? Morgan Fairchild stars in a new television sitcom pilot that is being shot on location in Bradenton, Florida.

Fairchild plays an overbearing mother who can't let go of Pinnacle Insurance Company to her sassy daughter. The show centers around the wacky injuries and workers comp claims the employees of Pinnacle Insurance Company encounter.

If the show gets picked up by a network, future shows will be shot in Southwest Florida requiring the actors to move there.

What kind of wacky workers comp claims have you heard about?

Florida State Unemployment Tax Rate Increasing 1/1/2011

Our friends at Bankers Employers Services let us know that the Florida Department of Revenue is raising the State Unemployment Tax Rate (SUTA) effective 1/1/2011.

The increase in the SUTA rate along with the average 7.8% increase in Florida workers comp insurance means increased expenses for Florida employers in 2011.

Fuller Insurance offers workers compensation and payroll services with several different insurance companies. Call us at 622-5283 for a competitive quote on payroll services and workers comp insurance.

Florida Workers Comp Insurance Rates Going Up In 2011

For the first time since 2003, the rates Florida businesses pay for workers compensation insurance are going up. The average rate increase across the state will be 7.8% and will be effective January 1, 2011.

FUBA Workers Comp reports that even with this new rate increase, Florida workers compensation rates are down more than 60% since the 2003 workers compensation reform law was passed. Florida now has the lowest workers compensation rates in the southeast United States.

 

Contractor vs Employee: Helpful Info from Bankers Employer Services

Here is some helpful information for our small business customers from Bankers Employer Services. Bankers Employer Services is our workers comp and payroll business partner:

This is a very easy to use reference pamphlet from the IRS concerning the difference between the classifications of employee vs.. contractor (1099).  The IRS as well as the DOL are looking at inconsistencies on client payrolls but also that of individual employees W-2's.  The IRS can also launch an investigation into how a client pays its employees if they deem it is necessary.  It only takes 1 employee to start an investigation and clients can pay dearly for this misclassification.

 

The misclassification of employees as contractors can be extremely costly and quickly domino into penalties, fines, taxes owed by the client.  Instead of paying just the normal portion of 7.65 of FICA the client could be held responsible to pay both the employer and the employee side, as well as part of the employees federal taxes.  In addition the client will be responsible for paying back SUTA, FUTA and workers compensation.  As you can see this could quickly become a very costly situation for the client.

 

Quick tip.  Ask these 2 questions:  1) If the person can either quit or be terminated while on the job, 2) and gets paid on a regular basis (weekly - bi-weekly etc.) then they are an employee. 

 

A contractor  (1099) will usually be paid upon completion of the project, has no work station and pays all his own expenses, and unless  gross contractual misconduct occurs they can not quit or be fired from a job.

Bankers Employer Services Offers Employee Leasing

Bankers Employer Services, a division of Florida-based Bankers Insurance Group, offers small business owners the opportunity to setup a co-employment arrangement or employee leasing arrangement thru local independent insurance agencies.

Bankers Employer Services is a Professional Employer Organization (PEO). Bankers Employer Services is a competitor to other well known Florida PEO companies such as Simple HR, Payroll Management Inc (PMI), and Landrum Professional Employer Services.

Bankers Employer Services provides these benefits:

• No Gap in Coverage for New Hires
• Insurance Data Tracking for Sub Contractors
• All Statutory Cut-Offs (SUTA and FUTA) Honored
• Administration Fees Lower than Most PEOs
• No Set-up Fees. No Start-up Fees. No Audit.
• Safety Program for Clients of All Sizes
• No Charge for Workers'Comp Overtime Pay
• Bankers is the Workers' Comp Carrier - No Third Party
• Expert HR and Payroll Services In-house
• Superior In-house Claims Department

Fuller Insurancerepresents Bankers Employer Services in the communities of Destin, Miramar Beach, Santa Rosa Beach, Panama City Beach, and Freeport, Florida.