287.716. Surcharge on deductible plan policyholders, when, calculation of--notification of policyholders. - Missouri Statutes

Surcharge on deductible plan policyholders, when, calculationof--notification of policyholders.

287.716. 1. For the purpose of providing funds for theadministration of the workers' compensation division, the division directorshall impose an annual administrative surcharge upon every workers'compensation deductible plan policyholder insured pursuant to theprovisions of this chapter. An annual administrative surcharge imposedpursuant to this section shall apply to all workers' compensation policieswith a deductible option that are written or renewed on or after January 1,2004.

2. In calculating the administrative surcharge owed pursuant to theprovisions of this chapter for workers' compensation policies withdeductible options, the administrative surcharge owed will be based uponthe total premiums, which would have been paid for the deductible creditportion of the policy. The annual administrative surcharge assessed shallbe set at the same rate as the premium tax imposed by section 287.690 foreach calendar year.

3. All workers' compensation insurers shall be notified by thedivision of workers' compensation within ten days of the determination ofthe administrative surcharge percentage to be imposed for, and paid in, thefollowing calendar year.

(L. 2003 S.B. 385)