Insured Employer Surcharge Dips Slightly, Self-Insured Factor Increases in Latest Assessments

The California Department of Industrial Relations announced on Tuesday that the total assessment for the current fiscal year will increase 13.9% to $1.568 billion from the $1.377 billion assessed for the fiscal year that ended in June. While the total assessment for all payers is more than $1.5 billion, the agency will be collecting $1.245 billion from employers after taking into consideration credits and funds. Insured employers pay assessments as a percentage of premiums, and the latest assessment for insured employers amounts to 5.85%, down from 5.93% last year. Surcharges for ...