No. 42254 (Amendment): Section R612-400-5. Premium Rates for the Uninsured Employers' Fund and the Employers' Reinsurance Fund

(Amendment)

DAR File No.: 42254
Filed: 10/20/2017 04:02:11 PM

RULE ANALYSIS

Purpose of the rule or reason for the change:

Workers' compensation insurance premiums in Utah include assessments to fund the Employers' Reinsurance Fund (ERF) and the Uninsured Employers' Fund (UEF). These assessment rates are reviewed annually and amended as appropriate in order to ensure the funds remain viable and are fully funded. The proposed changes establish these assessment rates for the 2018 calendar year.

Summary of the rule or change:

This rule update establishes the premium rates for 2018 at the current rate of 0.25% for the UEF and 3.0% for the ERF. These are the same rates as the previous year.

Statutory or constitutional authorization for this rule:

• Subsection 59-9-101(2)

Anticipated cost or savings to:

the state budget:

There are no anticipated costs or savings to the state budget since the rates will be the same as the previous year.

local governments:

There are no anticipated costs or savings to local governments since the rates will be the same as the previous year.

small businesses:

There are no anticipated costs or savings to small businesses since the rates will be the same as the previous year.

persons other than small businesses, businesses, or local governmental entities:

There are no anticipated costs or savings to any other persons since the rates will be the same as the previous year.

Compliance costs for affected persons:

There are no compliance costs for affected persons since the rates will be the same as the previous year.

Comments by the department head on the fiscal impact the rule may have on businesses:

There is no anticipated fiscal impact from the rule update since the rates will be the same as the previous year.

Jaceson Maughan, Commissioner

The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:

Labor Commission
Industrial Accidents
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY, UT 84111-2316

Direct questions regarding this rule to:

• Ron Dressler at the above address, by phone at 801-530-6841, by FAX at 801-530-6804, or by Internet E-mail at [e-mail]

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

12/15/2017

This rule may become effective on:

12/22/2017

Authorized by:

Jaceson Maughan, Commissioner

RULE TEXT

R612. Labor Commission, Industrial Accidents.

R612-400. Workers' Compensation Insurance, Self-Insurance and Waivers.

R612-400-5. Premium Rates for the Uninsured Employers' Fund and the Employers' Reinsurance Fund.

A. Pursuant to Section 59-9-101(2), Section 59-9-101.3 and 34A-2-202 the workers' compensation premium rates effective January 1, 201[7]8, as established by the Labor Commission, shall be:

1. 0.25% for the Uninsured Employers' Fund;

2. 3.0% for the Employers' Reinsurance Fund;

B. The premium rates are a percentage of the total workers' compensation insurance premium income as detailed in Section 59-9-101(2)(a).

 

KEY: workers' compensation, insurance, rates, waivers

Date of Enactment or Last Substantive Amendment: [November 28, 2016]2017

Authorizing, and Implemented or Interpreted Law: 59-9-101(2)

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