Assessment Rates for User Funding, 2008
The
Department of Industrial Relations (DIR) has issued the 2008
assessments and surcharges for user funding and anti-fraud, as well as
the Uninsured Employers Benefits Trust (UEBT) Fund, and the Subsequent
Injuries Benefits Trust (SIBT) Fund. Insurers must apply the following
rates against insureds’ estimated annual assessable premium for
policies incepting January 1, 2008 through December 31, 2008:
| 2008 WC Administration Revolving Fund Assessment (User Funding LC § 62.5): | t .010703 |
| 2008 Uninsured Employers Benefit Trust Fund Assessment (per LC § 62.5): | tt .001730 |
| 2008 Subsequent Injuries Benefits Trust Fund Assessment (per LC § 62.5): | .000311 |
| 2008 WC Fraud Account Assessment (per LC § 62.6): | .002394 |
Assessable
premium is the premium an insured is charged after all rating
adjustments (experience rating, schedule rating, premium discounts,
expense constants, retrospective rating, etc.) except adjustments
resulting from the application of deductible plans or the return of
policyholder dividends. Insurers must advance the money to the state on
behalf of policyholders, then recoup the funds via policy surcharges
and assessments. The 1st installment is due to the state on or before
January 1, 2008; the balance is due on or before April 1, 2008.
To
cover their portion of ‘08 assessments, self-insured employers should
apply the following rates against the total amount of WC indemnity paid
and reported on their Self-Insurer’s Annual Report.
| 2008 WC Administration Revolving Fund Assessment (User Funding per LC § 62.5): | t.030492 |
| 2008 Uninsured Employers Benefit Trust Fund Assessment (per LC § 62.5): | tt.004358 |
| 2008 Subsequent Injuries Benefits Trust Fund Assessment (per LC § 62.5): | tt.000814 |
| 2008 WC Fraud Account Assessment (per LC § 62.6): | t.006031 |
Further
details are included in a memo which DIR is mailing to workers’
compensation insurers and self-insured employer along with invoices for
each company’s share of the assessments and surcharges. Any
questions about the 2008 surcharges and assessments should go to DIR
Staff Services Manager Amadeo Urbano at (510) 286-7083 or DWC analyst
Naomi Carter at (510) 286-7087.