Old Fund Surcharge Eliminated Effective Jan. 1

A 9% surcharge that West Virginia employers have been paying since 2008 to pay off claims against the state’s old monopoly insurer will cease to exist on Jan. 1. House Bill 4628 discontinued the Workers' Compensation Deficit Reduction Surcharge. State lawmakers passed the bill in March because the surcharges paid by employers had raised enough money to pay off the last of the liabilities against the “Old Fund” that had been established to pay Workers’ Compensation Commission claims.  The Old Fund started out with $3 billion in liabilities when it was created ...