CHEYENNE - The Wyoming Department of Workforce Services (DWS) will be issuing premium credits to eligible Wyoming employers enrolled in the Workers' Compensation program starting this month.
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.
"These Workers' Compensation premium credits come at a good time for Wyoming businesses," said DWS Workforce Standards Administrator Jason Wolfe. "The credits will effectively give two months' worth of Workers' Compensation premium payments back to the employers, and these savings will be tremendously helpful during these difficult times."
Each premium credit 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.
The Workers' Compensation Division has mailed qualified employers a letter detailing the credit amounts and instructions on how to utilize those credits. If you have any questions as to your qualification for the 2020 premium credit or financial balance, please contact the Workersâ€™ Compensation Division at (307) 777-6763.