NHADA WCT Returns $3.5 Million in Rebates NHADA Workers’ Compensation Trust (WCT) members should now have their workers’ compensation rebate checks. The NHADA WCT Board of Trustees and staff are pleased to be able to return $3.5 million dollars as the 2026 rebate. Funds from 2020, 2021, 2022, 2023 and 2024 were released, based on the actuarial analysis and WCT Board approval, to make up the 2026 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 yet-to-be reported. No money is released from the 2025 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 2026 rebate brings the total amount returned to NHADA WCT members since our inception to $108,613,762. In addition to returning on average 40% of premiums back to members in the form of rebates, the WCT Board of Trustees has reduced rates 10 out of the past 11 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. Members must continually keep in mind that their rebate and workers’ compensation premiums are directly related to their claims experience. The better a member’s experience, the higher the rebate and the lower the experience modification factor, translating to lower premiums. Preventing injuries from occurring continues to be the single most effective way to decrease workers’ compensation costs and increase rebates. Members who incorporate risk management controls into their business culture have fewer losses and higher rebates than members who do not. These risk management controls include: • Providing regular recommended staff trainings; • Performing slip and fall prevention; • Having regular safety committee meetings; and • Complying with loss prevention recommendations. When injuries do occur, members who complete the following keep their claims costs to a minimum and enjoy higher rebates than members who are not actively engaged in managing their claims: • Immediately contact NHADA post-injury; • Are actively involved in the management of claims; • Maintain contact with the injured employee; and • Provide temporary alternate duty work as soon as the employee is released to return. Every member would like more money at rebate time, but members who are committed to hiring the best people, preventing injuries and managing their claim costs are the happiest when the checks are delivered. Low claims = higher rebate check! 19
RkJQdWJsaXNoZXIy ODQxMjUw