· Insurance premium: The pure premium rate for 2019 will decrease by an average 9.7 percent compared with 2018. Pure premiums are the base rates, before insurer costs are added. The impact on your company’s rate depends on a variety of factors, including industry and individual claim records. Your next policy renewal with your insurer will reflect this change.
· Premium assessment: Insurance companies (on your behalf), self-insured employers, and self-insured employer groups pay an assessment to the state to administer workers’ compensation and workplace safety programs. The assessment will increase from 7.4 percent to 7.8 percent of premiums paid. Self-insured employers and self-insured employer groups pay an additional amount into a reserve fund to pay claims in the event of an insolvency.
Self-insured employers pay 8.0 percent in 2019. Public-sector self-insured employer groups pay 8.0 percent. Private-sector self-insured employer groups pay 8.8 percent.
Employer Payroll Information
Workers’ Benefit Fund (cents-per-hour) assessment: Employers and employees split this assessment, which employers collect through payroll. This assessment will decrease from 2.8 cents to 2.4 cents per hour or partial hour worked by each individual that an employer must cover or chooses to provide with workers’ compensation coverage.
Employers must pay at least half the amount (1.2 cents per hour) and deduct no more than half from workers’ wages.
Each quarter, employers use Forms OQ and OTC to report and pay the assessment through Oregon’s Combined Payroll Tax Reporting System. For information about calculating the assessment, visit oregon.gov/DCBS/Pages/wbfaspx, email firstname.lastname@example.org, or call 503-378-2372.
This fund pays for benefits to injured workers and their beneficiaries. The fund also provides money to employers to help injured workers return to work.