May 11 2020 0comment
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Work Comp Insurance and how affected by the CARES ACT

Safety Tip

The NCCI has filed with their affiliated states a rule change that would exempt payments to furloughed workers due to the COVID-19 pandemic. These wages would be exempt from premium for workers compensation but would need to be reported to the NCCI by the carrier. NCCI made their filings last week and companies are still awaiting approval from the majority of the states. Once this has been approved in all states, companies will release a news bulletin to all policyholders and agents. For now, do not include wages paid to employees who are being paid to stay home and not work and to employees who are being paid for sick leave as part of the CARES Act. Employers should maintain good records of these wages so that they can be properly reported at audit but no premium will be charged against these wages.

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