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  1. #1
    Join Date
    Jul 2010
    Posts
    227

    Default Who Pays Worker's Comp Premiums

    My workers compensation claim was made in the State of: NA
    Who here thinks employees are not paying the WC premiums?
    You may be wrong.
    For instance, I began work in an industry at 9 dollars an hr. and within 4 yrs. I had gravitated to around 15 dollars per hr. I soon began to realize that my skills could better be capitalized on my own terms. An independant contractor.

    After learning that the companies I was working for were charging in the range of $75 to $90 per hr. for my work I wanted that kind of money, who wouldn't.

    Some states, not all, require an independant contractor to provide and pay for their own worker's comp coverage. Thing is I was working in many different states, but where do I want to establish my base of operation? Naturally in a state that has no such requirement. I will cover my own personal health care Ins. It's logical.

    So, anyone want to comment on where the difference is going?

    Let's say an average at $80 per hr. and leaves a gap of around $45-$50 per hr.

    Yeah, taxes are only one issue, but that's only about 30%, so now do you think you (as a 'company employed' worker) are not paying your own benefits.

    You are now involved in a scam, the Ins. industry scam!

  2. #2
    Join Date
    Jul 2010
    Posts
    227

    Default Re: Your Money (WC Related)

    Quote Quoting mozart View Post
    My workers compensation claim was made in the State of: NA
    Who here thinks employees are not paying the WC premiums?
    You may be wrong.
    For instance, I began work in an industry at 9 dollars an hr. and within 4 yrs. I had gravitated to around 15 dollars per hr. I soon began to realize that my skills could better be capitalized on my own terms. An independant contractor.

    After learning that the companies I was working for were charging in the range of $75 to $90 per hr. for my work I wanted that kind of money, who wouldn't.

    Some states, not all, require an independant contractor to provide and pay for their own worker's comp coverage. Thing is I was working in many different states, but where do I want to establish my base of operation? Naturally in a state that has no such requirement. I will cover my own personal health care Ins. It's logical.

    So, anyone want to comment on where the difference is going?

    Let's say an average at $80 per hr. and leaves a gap of around $45-$50 per hr.

    Yeah, taxes are only one issue, but that's only about 30%, so now do you think you (as a 'company employed' worker) are not paying your own benefits.

    You are now involved in a scam, the Ins. industry scam!
    Can't believe no has any concerns, comments?

  3. #3
    Join Date
    Oct 2006
    Posts
    9,108

    Default Re: Your Money (WC Related)

    wouldn't that mean an employer with higher worker comp costs would pay lower wages or a state with higher premiums and costs would pay less then a state with lower costs?
    even if there is a take back on wages it matters how much; if it's too small it'd be meaningless.
    you probably need some data to make your point more relevant.

    workers comp rates vary with many employers individual experience e.g. those with high losses pay higher rates. most often it translates into an increase in the price of their product or services but it could translate into cuts in pay or overtime or even reduced workforce.
    but then the employer with lower comp costs would get more business and hire more workers. it might be a push.

    In that gobal "everything is related to everything" sense you could speculate that if workers comp insurance coverage were free employers would raise wages

    but I doubt they would.....
    Last edited by .SH; 06-23-2011 at 04:25 PM.

  4. #4
    Join Date
    Jul 2010
    Posts
    227

    Default Re: Your Money (WC Related)

    No, not at all. Depends a great deal on the type of industry. A company that builds the tallest buildings pays a much higher rate than a company building only half the scale. Some rates are even calculated per foot/in height. Just the same with bridge construction, the longer the bridge and/or the longer the project in terms of time (weeks, months, yrs.) the higher the premiums. These are the elementary beginnings of calculating premiums, and there can be alot more to it than only that. There is an expectation of a certain amount of death and/or injury.

    Your right in respect to increases of products and services, why not, and many industries do charge more, pay more, etc...

    On the global.....why would employers raise wages? We live in a capitalist society. A society for the most part controlled by the Central Bank, the Federal reserve, and is actually a private industry in it'self. That's probly a good reason why the wealthy have such open arms for imigrants.

  5. #5
    Join Date
    Jan 2010
    Location
    Pennsylvania
    Posts
    609

    Default Re: Your Money (WC Related)

    That's probly a good reason why the wealthy have such open arms for imigrants.
    You are right, cheap labor. There are many that are not even caring to become citizens. It used to be a dream of some foreigners to come to the US and get citizenship. Now it seems, they just want to do a job and make as much $$ as they can, or have babies and be placed on the welfare and SS roles. And some people feel that they have every right, because we should feel bad for them. No!! they haven't put a dime into our welfare or social security system. Why should we do this? It's not like there are a few of them, it's gotten so out of control that they are bankrupting our whole system. We don't have enough for ourselves let alone immigrants. I am not saying we should completely close our borders to everyone. We need to have people that actually strive for citizenship and aquire a job without using someone's stolen social security number. And don't say it doesn't happen like that...I have a friend who was audited by the IRS because what she placed on her taxes was not what was showing on her SS statement. Someone had stolen her identity and was a worker in Texas. She lives in Phila PA. Of course, she actually worked in Phila and then every night took a jet to a factory in Houston TX to work the night shift....I guess she did this every night..huh? It was found that an illegal from Mexico was using her stolen SS# to work and send $$ home to family. Is that right??

  6. #6
    Join Date
    Feb 2007
    Location
    Calif
    Posts
    18,017

    Default Re: Your Money (WC Related)

    For instance, I began work in an industry at 9 dollars an hr. and within 4 yrs. I had gravitated to around 15 dollars per hr. I soon began to realize that my skills could better be capitalized on my own terms. An independant contractor.

    After learning that the companies I was working for were charging in the range of $75 to $90 per hr. for my work I wanted that kind of money, who wouldn't.
    As an EE you have all the benefits having a job, the ER carries all the responsibility. Wages, FICA, WC, GHP are all costs the ER bears in keeping EE's. When you are an IC/Ind Contr, you have no guarantee of a weekly pay check, you pay for your own GHP, if you don't have EE's you don't pay WC.

    The ER charges $80/hr for what you do as an EE, because they carry all of the risk... in a larger corp, they are also responsibility to the shareholder in paying dividends. As an IC, you pay yourself, when/if you have a job. (as IC, you are also not eligible for those UI bennies if laid off/terminated either)
    No, not at all. Depends a great deal on the type of industry. A company that builds the tallest buildings pays a much higher rate than a company building only half the scale. Some rates are even calculated per foot/in height. Just the same with bridge construction, the longer the bridge and/or the longer the project in terms of time (weeks, months, yrs.) the higher the premiums. These are the elementary beginnings of calculating premiums, and there can be alot more to it than only that. There is an expectation of a certain amount of death and/or injury.
    ER comp premiums are based on the industry, and all jobs are classified to the risk factor, and "pool'', the number of EE's in state wide performing the same job function...whether it's the welder on your bridge, or a seamstress in a clothing factory. Each ER/IC also takes into consideration the 'x mod' of the ER, claims history etc. in calculating the premiums.

    When any ER calcuates the cost of the service/product provided, they take into consideration all of the "cost of goods sold", including total wages/benefits, rent, utilities, liability coverage, etc, the only place any company can control the cost of goods sold in in payroll. Everything else is fixed.

    The very reason you see all these corporations with exhorbant increased in the profits now is because they learned how to get the job done with fewer EE's. Why would they increase the number of EE/payroll when the bottom line is higher with few costs ?

    Yes, your hourly wage, ER contribution to SSA/FICA, and the WC premiums are included in the cost of good sold... as above, you would not carry the risk as an IC...

  7. #7
    Join Date
    May 2011
    Location
    NOYB
    Posts
    185

    Default Re: Your Money (WC Related)

    I know of plenty of huge paying jobs , outside of the USA ..... The tradeoff is : no workers protections , whatsoever . You get let go , hurt , Die , or retire ........Your on your own!

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