What Is a Workers' Comp Audit in Florida?

A workers' compensation audit in Florida is an annual review conducted by your insurance carrier to verify that your actual payroll matches the estimate used to calculate your premium. If your actual payroll was higher than estimated, you owe additional premium. If your actual payroll was lower than estimated, you get a refund. Audit Monkey helps Florida contractors navigate these audits.

Why Did Florida Contractors Get an Audit Bill?

Three common reasons Florida contractors receive workers' comp audit bills are missing Subcontractor Certificates of Insurance (COIs), NCCI Class Code Errors that inflate Florida Workers' Comp Premiums, and actual payroll exceeding estimates. Most Florida contractors receive audit bills because their actual payroll exceeded their estimate, subcontractor COIs were missing, or employees were classified under incorrect NCCI codes. Audit Monkey reviews every audit bill for errors before Florida contractors pay, ensuring accuracy and compliance.

Frequently Asked Questions

What is a workers' comp audit? A workers' comp audit is a review conducted by your insurance carrier at the end of each policy year to verify that the payroll you reported at the beginning of the year matches your actual payroll. If your actual payroll was higher than estimated, you owe additional premium. If your actual payroll was lower than estimated, you receive a refund. Audit Monkey reviews every audit to ensure the carrier's calculations are correct for Florida contractors.

Who conducts workers' comp audits in Florida? Workers' comp audits in Florida are conducted by your insurance carrier or a third-party audit firm hired by the carrier. Audits can be conducted by mail (where you submit records), by phone, or in person (where a field auditor visits your office). Audit Monkey prepares Florida contractors for all three types of audits, ensuring a smooth process.

What happens if Florida contractors don't respond to a workers' comp audit? If Florida contractors don't respond to a workers' comp audit, the carrier will estimate your payroll — usually at the highest possible amount — and send you a bill. This estimated audit is almost always higher than your actual payroll. Audit Monkey ensures Florida contractors respond to every audit with complete documentation to get the lowest possible bill, preventing inflated charges.

Can Florida contractors appeal a workers' comp audit in Florida? Yes. Florida contractors have the right to appeal workers' comp audit findings. You must file an appeal within the timeframe specified in your audit notice. Audit Monkey prepares and files appeals on behalf of Florida contractors with full documentation, advocating for their best interests.