Assessments On Minnesota Workers Comp Policies

Due to the down turn in investment income the Minnesota Workers Compensation Reinsurance Corporation will assess its member companies and policyholders a reported $268 million over the next five years! That's a pretty big hit. To learn about Minnesota workers compensation rules contact Workers Compensation Consultants.

It was just announced that the Minnesota State sponsored workers comp organization lost about 25% of their investments during this economic slow down creating a deficit of somewhere around $420 million that just has to be made up. The current plan would make collection of the assessments spread out over the next five years.

The assessment to members and policyholders will still have to go through the approval process with the Minnesota Commissioner of Labor and Industry along with approval from the Minnesota Commerce Commissioner. Hearings will start soon.

Workers Compensation Rules

Workers Compensation Rules and Laws are different for each state. We've talked about this situation many times in this blog. And when it comes to determining if and when a business may need to carry workers comp insurance it can become confusing.

Here's a couple of questions for business owners;
1. Do you know if you have to provide workers compensation coverage for your employees?
2. As a business owner do you have to be included in the workers comp coverage for your business?
3. How does your state treat sole proprietors, individuals, partners, LLC members and corporate officers in regards workers compensation coverage?
4. Do you have to provide workers compensation coverage for independent subcontractors in your state?
5. Who controls the workers compensation mechanism for the state in which you conduct business and how can you contact them?

If you need help with the answer for any of these questions then you need to visit Workers Compensation Consultants website. They provide a great, free resource for all business owners with questions just like these!

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Nebraska Workers Compensation Benefits - A Fight For Increased Living Costs

Nebraska workers compensation benefits, like most states, provides compensation for off work injured Nebraska workers. In Nebraska the maximum level of compensation is dictated in the Nebraska Workers Compensation Law. For most states, as with Nebraska, the maximum level is a percentage of the states statistical average weekly wage as computed and published each year by the state government. Just so happens that the current maximum payable to a Nebraska injured worker is $671 per week.

Well there is a fight brewing in the Nebraska State Legislature. Just look for Legislative Bill 630. One faction wants to add a cost of living adjustment onto the amount an injured worker would receive. The other group feels this would just increase the cost for workers compensation insurance for private and public enterprise. Seems to me, considering the poor economy we are now in, any increase in cost levied on a business would be difficult.

We'll have to keep our eye on this and see what happens!

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Free Workers Compensation Benefit and Rule Information - A National Workers Compensation Website

Workers Compensation issues are confusing especially when you try to find or need helpful information about workers benefits, on the job injuries and disabilities or if you need facts about workers compensation rules, statutes and laws for any individual state. If you search the web for this information you will certainly find hundreds of sites hawking their information about workers comp. Here's a site that's a little different!

Workers Compensation Consultants is a professional workers comp consulting firm. In addition to providing workers comp consulting services on a wide range of topics they also operate a national website that contains a ton of free information for employers, insurance companies, adjusters, employees, injured workers and medical providers. This site is laid out in an easy to find, factual, common sense manner that allows anyone with an interest in workers compensation or with a workers comp problem to find information on injured worker benefits, state by state rules and laws, how to prepare for an insurance audit, how to file a proper dispute, how to verify workers compensation codes and many many other topics of interest about workers comp.

So be sure to check out Workers Compensation Consultants, you'll not be disappointed by the information found on their site!

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