January 25, 2018
Worker’s compensation premiums savings for contractors with apprentices.
Effective for new and renewed policies with effective dates of 10/1/18 or later, the State of Wisconsin has approved a 2 percent premium credit (up to $2,500) for employers participating in the ABC Apprenticeship Program. This savings will not apply to minimum premium policies and cannot reduce premiums lower than the applicable minimum premium. The credit will be applied to the employer’s policy pro rata as of the date the carrier receives the copy of the executed contract and cannot be applied retroactively to expired policies. It is applied to total modified premium after the application of any experience rating modification and before the application of any premium discount and the expense constant. The credit will not apply to policies applicable or expired prior to October 1, 2018. Also, if an employer becomes ineligible for the credit at audit, any credit applied at the inception of the current policy will be removed.
To receive the credit:
• Notify your workers’ compensation carrier of your eligibility and request the credit.
• Provide carrier with copy of the fully executed apprentice contract for each apprentice.
• Meet all provisions required in the apprentice contract and the apprentice program.
Provide documentation of participation in the program for at least 6 months per policy year.