Very true. Between new company insurance premiums and WC its almost imposssible to do a W2.
Workers compensation insurance
Discussion in 'Ask An Owner Operator' started by DUNE-T, Feb 10, 2018.
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Base rates/100.00 payroll. Most states make you use the risk pool if you have no comp experience. Each year you are assigned a experience mod. If your mod is .80 then your cost is 80% of the base rate. If/when you can get it through an insurance company of your choice, you still pay the base rate X exp mod. Insurance company can't charge less than that rate, but some will have a profit sharing policy that works around it. It's all based on loss ratio's.
CT $19.67
NJ $18.30
NY $16.10
IL $15.75
CA $15.62
ME $15.26
NC $14.75
RI $14.13
LA $13.97
OK $13.93
MI $13.47
MO $12.87
VT $12.72
AK $12.56
WA $12.39
SC $12.28
DE $12.15
MD $11.84
MN $11.82
HI $11.57
IA $11.18
PA $11.06
NE $10.77
WI $10.67
SD $10.49
OH $10.31
AL $10.24
ID $10.24
TX $10.11
NM $9.95
GA $9.69
MT $9.56
UT $9.46
KY $9.37
TN $9.26
NH $9.09
KS $9.01
MA $8.99
FL $8.98
0R $8.94
AZ $8.85
VA $8.39
CO $8.09
AR $8.04
DC $7.41
NV $7.01
MS $7.00
IN $6.26
WY $5.96
ND $5.70
WV $5.5double yellow, Derailed, Ruthless and 1 other person Thank this. -
Solo O/O in Oregon. Not required.
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All states the officers/principals can elect not to be covered. Some state require just one employee, others 5+ employee's.
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Scooter Jones Thanks this.
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Yeah, I was just adding my status
Oxbow Thanks this. -
Thanks for that comparison Chris -_-
double yellow and Oxbow Thank this. -
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