What annual special fund assessments do self-insurers pay and how much are they?
A. Self-insured employers must pay annual assessments for the maintenance of the Workmen’s Compensation Administration Fund, the Workmen’s Compensation Supersedeas Fund, the Subsequent Injury Fund, and the Self-Insurance Guaranty Fund. Assessments against a self-insurer are based on its pro rata share of all compensation paid by all self-insurers and insurers in the calendar year prior to a particular assessment multiplied against the amount needed to finance the operation of the special fund. While assessment rates vary each year depending on the amount needed to maintain the special funds and the amount of compensation paid, generally, total assessments against a self-insurer for all special funds have been averaging between 4 percent to 5 percent of the amount of compensation it paid in the prior year.
Related Questions
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