Wyoming Employers to Receive Workers' Compensation Premium Credit
Cheyenne, WY (WorkersCompensation.com) - The Wyoming Department of Workforce Services (DWS) will be issuing premium credits to eligible Wyoming employers enrolled in the Workers' Compensation program starting this July.
There are two one-time premium credits -- one passed in the 2020 legislative session, as well as Senate File 1002 passed during the recent special session of the legislature. The second premium credit is intended to help address the financial and economic strain on businesses in responding to the COVID-19 pandemic.
Each is an 8.33 percent credit, for a total of 16.66%, which can be used by employers toward their workers' compensation premium starting July 1, 2020, and applied toward premium payments until June 30, 2021. If not used during that time frame, the opportunity to apply the credit toward premium will expire on June 30, 2021.
In order to be eligible for the credit, employers must have made premium payments in calendar year 2019 and are required to be in good standing with the Workers' Compensation Division on all required workers' compensation payments as of June 15, 2020.
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