Cranston, RI – The RI Department of Labor and Training has proposed an assessment rate for Workers’ Compensation insurers of 6.75 percent for the coming year, effective July 15, 2011.
This rate has remained level every year since 2008. Director Charles J. Fogarty explains, “By keeping the assessment rate level for 2011, the department has acted on Governor Chafee’s advice to minimize any additional governmental costs to area businesses.”
Per statute, the Workers’ Compensation assessment rate is set by the Director of Labor and Training. In a new procedure proposed by Director Fogarty and designed to increase transparency of the rate-setting process, the proposed Workers’ Compensation assessment rate will be subject to public comment for a 20-day period ending July 5, 2011. During this time, interested persons may submit data, views, comments and/or arguments in writing to the Division of Workers’ Compensation, P.O. Box 20190, Cranston, RI 02920-0942, ATTN: Matt Carey. Comments may also be submitted electronically to email@example.com.
Each year, the Workers’ Compensation assessment rate is recalculated, based upon the projected costs to fulfill the responsibilities of RIGL 28-37-1(b) pursuant to RIGL 28-37-13(c). These responsibilities include the funding of the Workers’ Compensation Court, the Workers’ Compensation Fraud Unit, the Workers’ Compensation Education Unit, the Workers’ Compensation Advisory Council, the Donley Rehabilitation Center and other administrative and operational costs associated with the Workers’ Compensation program in Rhode Island.
Workers’ Compensation is insurance to provide medical expenses and lost wages to employees who are injured while working. Employers are required to have workers’ compensation insurance to cover these benefits. The Division of Workers’ Compensation at the RI Department of Labor and Training monitors the workers’ compensation system, ensuring claims are paid correctly and that all required employers with one or more employees maintain insurance coverage. It also provides rehabilitative services, including physical therapy, work hardening, vocational services and psychological services through the Donley Rehabilitation Center in Providence. To report an employer without coverage or to report incidents of Workers’ Compensation fraud, contact the Workers’ Compensation Hot Line at 462-8100 option 7.
Source: RI DLT