|Newsline No. 63-10||Printer friendly|
|November 29, 2010|
Division of Workers' Compensation posts fund assessment rates
for fiscal year 2010-11 on its Web site
The Division of Workers’ Compensation (DWC) has posted the fiscal year 2010-2011 assessment rates for the Workers’ Compensation Administration Revolving Fund (WCARF) and other funds on its website. Insurance companies and self-insured employers will also receive assessment notices in the mail. The assessments are authorized by Labor Code sections 62.5 and 62.6.
The 2010-11 assessment of $404.9 million reflects a decrease in the aggregate assessment dollar amount of approximately -$1.7 million (or -0.43%) from the $406.6 million 2009-10 assessment. It should be noted that the totals listed for each fund on the first page of the assessment letter do not reflect the final assessment for each fund. The final assessment for each fund for both insured and self-insured employers can be found on page three of the methodology (resulting final assessment).
In addition to fully funding the work of the DWC, and partially funding the work of the Divisions of Occupational Safety and Health and Labor Standards Enforcement, assessments also fund antifraud efforts by the California Department of Insurance and local district attorneys, pay benefits to injured workers whose employers were illegally uninsured, and provide compensation to injured workers who already had a disability or impairment at the time of injury. The assessment covers the following funds:
Insurers must pay the funding due to the state for policy holders and recover those funds from policy holders through workers’ compensation policy surcharges and assessments.
DWC mailed letters and invoices to insurers and self-insured employers Monday, November 29, showing the share of the assessments and surcharges due. Insurers with questions about their letters should call DWC Staff Services Manager Amadeo Urbano at (510) 286-7083 or DWC Analyst Naomi Carter at (510) 286-7087 for more information. Self-insured employers with questions about their letters should call the Office of Self Insurance Plans at (916) 574-0300 and speak with Tina Freese.