053-2 Wyo. Code R. §§ 2-7 - Deductible Program
(a) Pursuant to
W.S. § 27-14-201(t)(i), an employer may apply to participate in a
deductible program. Employers must apply for the deductible program in writing
on a form prescribed by the Division. Terms of the deductible program shall be
defined by contract entered into between the employer and Division.
(b) The Division may require applying
employers to undergo a financial audit to ensure financial stability. The audit
may include a credit check and review of company financial reports. The
Division shall analyze each applicant based on risk analysis and sound business
practices. The Division may refuse any applicant into the deductible program if
it determines that the proposed contract does not represent a sound business
practice or decision.
(c) For any
employer enrolled in the deductible program, the Division will process and pay
claims in accordance with the Act. The employer shall reimburse the Division
for all costs paid by the Division on individual claims up to the amount of the
contractually agreed deductible.
(d) The deductible levels available are:
$1,000.00, $5,000.00, $10,000.00, $25,000.00, $50,000.00, $75,000.00, or
$100,000.00. The maximum deductible level offered to an employer by the
Division shall not be more than fifty percent (50%) of the employer's standard
premium.
(e) The amount of the
contractually agreed upon deductible will be applied to the employer's industry
base rate before any discounts under, Sections 8-10, of this chapter are
calculated and applied.
Notes
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