Use this screen to set up your company-specific workers' compensation information, such as policy number, policy start and end dates, experience modifier, calculation method, and workers' compensation codes rates, by state.
Use this screen after you establish state code information on the Manage States and Provinces screen, and after you have established workers' compensation codes on the Manage Workers' Compensation Codes screen.
Enter, or click to select, the two-character state code. All state codes are validated against the State table. The field to the right displays the state name.
Select this option to use the state on the Manage Employee Taxes screen.
Select this option to use the default Overtime State from the TS Defaults tab of the Manage Employee Salary Information screen.
Enter the policy number assigned to you by the state or by your insurance company.
Enter, or click to select, the start date of your workers' compensation policy. The format for the date is MM/DD/YYYY.
Enter, or click to select, the end date of your workers' compensation policy. The format for date is MM/DD/YYYY.
Select this check box to exclude the premium portion of overtime in the workers' compensation premium calculation.
Enter, or click to select, the workers' compensation modify code (for pay types other than overtime premium) for exclusion in the premium calculation.
Enter the wage ceiling amount. This is the wage at which workers' compensation calculations stop.
Enter your company's experience modifier related to this state and your policy. This experience modifier is given to you by the state or by your insurance company. You can enter a maximum of five places to the right of the decimal, but Costpoint rounds your entry to two places to the right of the decimal when you tab from the field.
Click to add a new row to the table.
Enter, or click to select, the workers' compensation code you want to include for this policy. Workers' compensation codes are established on the Manage Workers' Compensation Codes screen, and the value in this field is validated against the Workers' Comp table.
The description of the entered workers' compensation code is displayed.
Enter the rate (percentage) associated with the designated workers' compensation code. This rate is multiplied by the associated payroll dollars and the Experience Modifier to arrive at the premium. You can enter four places to the right of the decimal and two places to the left of the decimal (00.0000).