Pub. 3 2021 Issue 3

T he NHADA WCT will be sending out self- audits again this year in June. The completed self-audits are due back by July 20, 2021. We hope that members will take advantage of this opportunity to modify their payroll information. The data is used to revise members’ payroll information, which allows the WCT to more accurately calculate members’ premiums beginning in September through to the time that the actual physical audit results are received in the first quarter of 2022. If a member’s payroll has changed due to new hires or layoffs, they should complete the self-audit to ensure that the payroll information used to calculate the premium is accurate. Keeping payroll information up-to-date reduces the chance that additional premiums will be due at the time of the actual audit or prevent overpayment. Since 2011, all over-payments are applied to future premiums rather than returned to the member. The self-audit also allows members to ensure that their employees are correctly classified. The auditors who perform the actual audit are trained to identify misclassifications. Misclassifications are another way to skew premiums resulting in overpayments or underpayments. Included with the self-audit reports are TheWC Self Audits Are onTheirWay to You MARIANNE GOURGIOTIS UNDERWRITER, NHADA WCT D R I V E 8