L&I Will Help YOU Pay Your Premiums
A Mason County roofing contractor, Southgate Roofing, was in the news a few weeks ago for failing to pay his workers comp premiums and maintaining coverage for his workers. As a result, he is now facing 5 years in prison and a $10,000 fine by L&I.
- If your business is currently paying workers comp premiums to L&I, you know that this is a significant business expense.
- You are required to cover all of your employees, except for business owners.
- What would you do if you found yourself unable to pay your premiums, as the contractor above did?
- Would you have to close your business or risk going to prison?
Actually, I have some good news for you.
During the heart of the recession, L&I discovered that about 13,000 employers got behind in paying their premiums. And when they took a hard look at who those employers were, they realized 60% of them had been regularly paying on time. Giving employers a hand would result in keeping people working, so in 2009 L&I created the Employer Assistance Program.
The purpose of the program is to provide some assistance to employers struggling to make their payments.
Here’s how it works
- An employer who has had a solid payment history can request an additional 90 days to pay their quarterly premiums, without incurring penalties or interest.
- All L&I asks is that the premiums be paid within 90 days and future premiums be paid on time.
- They’ll even assist those who haven’t always paid on time, but in those situations cannot waive penalties and interest.
If you’re interested in learning more, you can call L&I’s Small Business Liaison office at 800-9870-0145 or email them at SmallBusiness@Lni.wa.gov.