New Mexico Workers' compensation exists to provide benefits for U.S. employees. People that have suffered a work related injury might be entitled to receive workers' compensation for the injuries they have endured. The workers' compensation benefits may include payment of medical expenses and compensation for any lost wages. In addition, workers' compensation can be paid to an employee's dependents if they die from a work-related injury or disease.
There is federal workers' compensation act and individual states have their own workers' compensation laws. The Office of Workers' Compensation Program administers the federal workers' compensation act. Any U.S. civilian employee is covered under federal workers' compensation, excluding the people paid from non-appropriated funds.
Workers' compensation coverage covers all Federal employees regardless of the length of time they have had the job and their position. Any type of injury or disease can be covered by workers' compensation if it was caused by the job during work hours. Workers' compensation does not cover injuries caused by willful misconduct, intent to bring the injury to him/herself, or an injury caused by intoxication.
Premium is the amount you pay to New Mexico Mutual after all discounts and experience modification factors have been applied to your policy. Rates are the amount assessed to the business classification code that best describes your business. There are approximately 600 industrial classifications and each is assigned a rate per $100 of payroll, which corresponds to its potential for loss. The combination of the rates for your classification of business and any potential discounts on workers’ compensation coverage determines the basic cost of your premium/policy.
Several organizations are involved in rate setting. The National Council on Compensation Insurance (NCCI) receives loss and payroll reports from all New Mexico workers’ compensation insurance carriers. Since loss reports are a factor in determining rates, the fewer losses a business has, the lower its rates. NCCI then sets rates without profit margin or business expense included. These loss costs are passed to the Insurance Commissioner for approval. Once approved, New Mexico Mutual adds the cost of doing business to loss costs (covering administrative costs such as issuing, recording, and auditing) and then applies the rates to policies.
The compensation system can be described as a trade. For a limited number of weeks persons disabled by job injuries are guaranteed a portion of their pay. In exchange, workers and their families lose their right to sue employers, supervisors or coworkers in court for pain, suffering, and loss of support or other damages. Over time the trade has proven to be one-sided. What employers obtain through lawsuit immunity far outweighs what they pay in compensation benefits. Put another way: What workers and their families are forced to give up is far greater than what they receive.
There are several exclusions from workers compensation. Railroad workers, seafarers, police officers, firefighters and independent contractors are excluded from the compensation system. Also excluded are persons such as babysitters and home gardeners whose employment is not part of their employer's regular business. Anyone who is not on an official payroll and anyone who does not pay taxes are exempt from workers compensation as well as shipyard and harbor workers and employees of the U.S. government are covered by federal compensation programs. All private sector employers, even those with only one employee, are required to purchase workers' compensation insurance or to qualify as self-insurers. Policies must cover all employees from day one, except for seasonal and casual workers and part-time domestic workers, for whom cover elective. A workplace notice must be posted with the insurer's name. Failure to insure is a criminal and civil offense. Penalties may include a stop work order, a fine of $100 per day, and imprisonment for up to one year. Workers' compensation is elective for cities and towns.
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