Pub. 3 2021 Issue 3

B y now, all NHADA WCT members should have their workers’ compensation rebate checks. “The NHADA WCT Board of Trustees and staff are very pleased to be able to return $3.6 million as the 2021 rebate.” said WTC Board Chairman, Matt Marrazzo. Funds from 2018 and 2019 were released, based on the actuarial analysis and WCT Board approval, to make up the 2021 rebate. The actuaries’ goal is to release as much money as possible from past fund years while retaining enough money in reserve for the WCT to remain in the 99% confidence level. Money held in reserve is intended to cover losses both reported and those that may not yet have been reported. No money is released from the 2020 Fund Year as those claims continue to develop. When claims are over one year old, their ultimate cost is more predictable, and the actuary has greater confidence in releasing funds for that year. The 2021 rebate brings the total amount returned to NHADA WCT members since our inception to $96 million. In addition to returning over 40% of premiums back to members in the form of rebates, the WCT Board of Trustees has reduced rates five out of the past six years. Between the decreasing rates in an otherwise volatile market and the annual rebate, the NHADA WCT remains a truly cost-effective solution to workers’ compensation coverage. NHADAWCT Returns $3.6Million inRebates PETER SHEFFER NHADA WCT DIRECTOR D R I V E 6