https://youtu.be/9C2VSDSNhcc Try our new video summary of this update! Was 6.4% cut but with legislative change, recommending a 1% drop. From Florida Trend – “Florida businesses could see a slight decrease in workers’ compensation insurance rates in 2025, continuing a series of years of lower rates. The National Council on Compensation Insurance, which makes rate…
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Year-End Preparation Best Practices Getting Ready for 2024 As of this communication, the individual work comp code rates for 2024 have not been published and shared. Below is more information from NCCI about the rate filing. We’ve also included best practices for PEO customers to help with their year-end preparations. A successful 2024 starts with…
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2024 Workers’ Compensation Rates – Update Public Hearing As we mentioned in last month’s communication, NCCI is recommending a 15.1% rate drop for Florida’s workers’ compensation rates in 2024. If passed, Florida’s workers’ compensation rates would have dropped by nearly 89% in roughly the last 20 years. The OIR held a rate hearing yesterday to…
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Possible 89% reduction over roughly the last 20 years NCCI is recommending a 15% rate drop for Florida’s workers’ compensation rates in 2024. If passed, Florida’s workers’ compensation rates would have dropped by nearly 89% in roughly the last 20 years. The proposed amount of 15% is an average reduction across all class codes. With…
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There are several reasons why independent insurance agents work with agencies. These agencies can go by several terms but one of the common terms is an Independent Marketing Organization (IMO). They offer access to carriers, back office assistance, commission strength, and more. Independent insurance agents specializing in workers’ compensation often use an agency for these…
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What is being called “The strongest anti-illegal immigration bill in the nation” was just signed by Florida Governor Ron DeSantis. The bill (SB 1718) highlights are: Requires employers to use E-Verify to check the employment eligibility of employees, and fines employers who fail to use E-Verify $1,000 per day. Suspends licenses of any employer who…
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Overall, partnering with a PEO can help a business operate more efficiently, improve compliance, reduce costs, and attract and retain top talent.
Are you tired of spending countless hours managing your payroll and insurance needs? Bridgely Key Options is here to help! As a broker of professional employer organization (PEO), we help you with all your HR needs, so you can focus on growing your business and enjoying your personal time. With Bridgely Key Options, you don’t…
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At Bridgely Key, we understand that running a successful business in the construction trades is hard work. That’s why we’re committed to providing our clients with the support and resources they need to thrive. As the premier provider of workers compensation insurance and payroll services to the construction trades, we’ve helped countless businesses across Florida…
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New businesses, new to Florida businesses, and existing businesses will be competing on multiple fronts. Prior to Hurricane Ian, it was reported that construction costs has seen double-digit increases in 2022 (read more here). Unfortunately, this isn’t the only hurdle facing the construction trades. Labor shortages in the construction industry aren’t anything new, however, after…
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