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Work comp rates for all job classification codes are always expressed as a percentage of $100 in wages. An annual policy is always subject to an audit because it was based on estimated wages and not actual wages. In order to calculate the cost of the policy you only need to multiply each rate with its divided payroll.
Key Takeaways. The monopolistic states are Wyoming, Washington, Ohio, and North Dakota. All four monopolistic states bar the sale of workers compensation insurance by private insurers. In these states, employers must buy insurance from a state-run insurance fund.
We will provide quality service to help you achieve the best medical recovery possible from your work injury and help you return to work. Workers Compensation is funded by premiums paid by employers to provide coverage for lost wages and medical bills when an on the job injury occurs.
FAQ Report the injury to your supervisor immediately. Seek medical attention, if necessary. Notify your employer immediately, but no later than 72 hours after having sustained an injury. File a Report of Injury with Workers Compensation within 10 days. Complete the form in its entirety, preferably with your employer.
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