2025 Workers’ Comp Assessments
The Department of Industrial Relations has released its assessments for 2025. The charges are added to employer’s workers’ comp policies, and self-insureds are assessed differently. DIR says the total cost …
Tagged in: self-insured
Private Self-Insured’s 2023 Experience
California’s private sector employers that self-insure their workers’ comp obligations collectively spent $1.56 billion last year to provide indemnity and medical benefits to injured employees. The payments cover claims from all years, up 7.6% from the prior year. The self-insured employers have estimated future liabilities still outstanding of $4.18 billion, up from $4.03 billion outstanding …
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Bankrupt Self-Insured Defaults On Workers’ Comp Obligations
Bankrupt retailer 99 Cents Only Stores LLC stopped paying its workers’ comp claims, and the California Self-Insurers’ Security Fund (SISF) is now tasked with ensuring that its injured workers receive their statutory benefits. State officials note the self-insured employer had $43 million in workers’ comp liabilities at its default but say that based on the …
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Alternative Security Program For SIGs
California’s SIGs – Self-Insured Groups –– may no longer have to post security to secure financial viability as self-insureds. State officials say they are returning to a subject that has been bandied about for years but never implemented – allowing SIGs to participate in the alternative security program (ASP) run by the Self-Insurers Security Fund …
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Penalty Rules Published For Medicare Reporting Violations
The final rule establishing when and how penalties will be assessed for carriers and self-insured employers who fail to properly report claims to Medicare is now out and set to take effect on December 11, 2023. The final regulation, however, gives the regulated public a year before fines can kick in, which will give them …
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Latest Numbers for California’s Self-Insured Groups
The number of self-insured groups (SIGs) in California’s workers’ comp industry remained steady at 25 last year, but the number of employers covered by the groups was down last year for the third year. Total covered payroll was up 8% to top $7 billion. The statistics cover the 2022 calendar year results. The change in …
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Private Self-Insureds’ 2022 Experience
Those California private sector employers who self-insure their workers’ comp obligations saw an uptick in reported claims last year, with the increase outpacing overall employment growth among the self-insureds. The private employers reported 104,278 workers’ comp claims last year, with a relatively even split between indemnity and medical-only claims. The total reported claims are up …
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What’s With California’s Excess Insurance Market
California’s excess workers’ compensation insurance market grew by 6% to nearly $234 million in written premium last year. The increase, though, is roughly half the 11.7% increase the general workers’ comp market saw last year as wage inflation and expanding payrolls boosted premium. Self-insured employers, self-insured groups (SIGs), and self-insured public entities buy excess workers’ …
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