Terry Axman with Mid Iowa Insurance presented the Carroll County Board of Supervisors with their workers’ compensation rates for the fiscal year beginning July 1. He said there was an increase this year of a little over $25,000 from about $106,400 to $131,600. He says there were really two factors that resulted in that increase. The first was a slight increase in payroll.
Axman explains they don’t base the mod factor on the current year, they look at the prior three years. Higher claim numbers during that time period resulted in the jump. The overall premium is calculated and then discounts are applied, which Axman says helps the county out a great deal.
The increases from the previous years were isolated incidents and Axman expects lower claims will result in lower premiums for fiscal year 2019. Supervisors added that with a whole department being dissolved after the closing of Carroll County Case Management on April 1, the payroll rates will drop for the next premium calculations as well. Carroll County Auditor, Kourtney Irlbeck, says the increase will require budgetary adjustments.
The supervisors will address any budget amendments to cover the shortfall at a future meeting.
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