Workers' Compensation Cost Comparison

Code

Description

Payroll

Rate**

Premium

8018

Wholesale Store

$229,880

4.35

$10,000

Total

$229,880

$10,000

Standard

State Ins. Fund

Carrier

Group # 544

Policy Period

Annual

Annual

Standard Premium

$10,000

$10,000

Experience Modification

0.90

0.90

Modified Premium

$9,000

$9,000

Premium Discount

($550)

($1,800)
20%

Expense Constant

$200

$200

Foreign Terrorism

$78

$78

Domestic Terrorism

$23

$23

Net Premium

$8,751

$7,501

Administration Fee

N/A

$900

NYS Assessment (15.5%)

$1,325

$482
6.6%

NY Security Fund

$202

N/A

Premium without Dividend

$10,278

$8,8363

Dividend*

$0

($2,520)
35% (Average since 1993)

Premium with Dividend*

$10,278

$6,363

You Save  

$3,915