WC Insurance Rates per $100 of Payroll
I was trying to find some general injury rate information on the WI DWD (Department of Workforce Development) site, where are small safety plan information is kept. We are a Federal OSHA state. Could not find info like you can find on BLS but did find lots on WC. However I did find this slide, which I think is attempting to promote WI as a employer friendly state. Rates are from 2019. The site did say that if your company was contemplating becoming self-insured you had to have at least $200,000 per year in WC premiums (or it made no sense to switch) and put up $500,000 in escrow, sort of like a bond on injury reserves. If you want to understand reserves that is in another class! :) This is WI information.
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Wow, actually makes New York look not too bad
What is NY? Michigan's is deceptive. For instance in the Foundry categories, all Foundries also pay into the Silicosis Dust and Disease Fund. It pays All workers comp benefits for injured foundry workers with respiration diseases after being off work a year. So the company and insurance companies do not have to pay anything after one year, as almost every foundry employee with years of experience in a Foundry has some sort of respiratory problem. Almost every foundry retiree would have some sort of lung problem, We almost encouraged them to come in as we could put them on WC pay one year and then the state takes over. WE had a pension plan off-set so we could deduct $ for $ what they got for WC we saved on their company pensions, win/win. Some retiree would come in and tell me he had a sore shoulder I would ask him if he had a cough, if he did and they always did, we would send him to doctor, get medical evidence of lung problems and we would not fight the claim (self-insured). Keep our fingers crossed he would not have surgery on his shoulder for a year, and then we would not care, the state took over. It was not quite as easy at it sounded but easy enough.