2018 Kentucky Revised Statutes CHAPTER 342 - WORKERS' COMPENSATION .1231 Payment for assessment, penalty and interest, and expenses -- Procedure for protesting special fund assessments -- Expenses of audits, how paid -- Mailing of assessment notice -- Documents relevant to reports and audits -- Notice and payment of refund -- Penalty for late payment.
Download as PDF
342.1231 Payment for assessment, penalty and interest, and expenses -- Procedure
for protesting special fund assessments -- Expenses of audits, how paid -Mailing of assessment notice -- Documents relevant to reports and audits -Notice and payment of refund -- Penalty for late payment.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
The funding commission may mail to the assessment payer a notice of any
assessment assessed by it. The assessment shall be final if not protested in writing
to the funding commission within thirty (30) days from the date of notice. Payment
for the assessment, penalty and interest, and expenses shall be received by the
funding commission within thirty (30) days from the date the notice becomes final.
The protest shall be accompanied by a supporting statement setting forth the
grounds upon which the protest is made. Upon written request, the funding
commission may extend the time for filing the supporting statement if it appears the
delay is necessary and unavoidable. The refusal of such extension may be reviewed
in the same manner as a protested assessment.
After a timely protest has been filed, the assessment payer may request a conference
with the funding commission. The request shall be granted in writing stating the
date and time set for the conference. The assessment payer may appear in person or
by representative. Further conferences may be held by mutual agreement.
After considering the assessment payer's protest, including any matters presented at
the final conference, the funding commission shall issue a final ruling on any matter
still in controversy, which shall be mailed to the assessment payer. The ruling shall
state that it is a final ruling of the funding commission, generally state the issues in
controversy, the funding commission's position thereon and set forth the procedure
for prosecuting an appeal to the Kentucky Claims Commission pursuant to KRS
49.220.
The assessment payer may request in writing a final ruling at any time after filing a
timely protest and supporting statement. When a final ruling is requested, the
funding commission shall issue such ruling within sixty (60) days or at the next
board of directors meeting, whichever is later, from the date the request is received
by the funding commission.
After a final ruling has been issued, the assessment payer may appeal to the
Kentucky Claims Commission pursuant to KRS 49.220.
The expenses incurred by the funding commission in conducting audits required in
this chapter shall be paid by the audited entities in accordance with administrative
regulations promulgated by the funding commission.
Notwithstanding any provision to the contrary, a notice of assessment under
subsection (1) of this section shall not be collected unless the notice of assessment
is mailed to the assessment payer not later than five (5) years from the due date of
the quarterly premium report or the date the amended quarterly premium report is
filed, whichever is later. A quarterly premium report shall not be amended later than
one (1) year after the due date of the quarterly premium report.
Assessment payers shall preserve, retain, and provide all documents relevant to
quarterly premium reports and subject to audits to the funding commission upon
request during the completion of the audit.
(9) (a) The funding commission may mail the assessment payer notice of a refund
amount to be returned to an insured. The insurance carrier shall pay the
amount of the refund to the insured within sixty (60) days from the date of
notice sent by the funding commission. If, after good faith efforts, the refund
cannot be returned to the insured, the refund amount shall be remitted to the
funding commission within thirty (30) days from the last date of attempting
the refund.
(b) If a refund amount to an insured is unpaid on the date on which it is due, then
that amount shall bear a penalty of one and one-half percent (1.5%) per month
from that due date. The funding commission shall have the authority to waive
part or all of the penalty where failure to pay is shown, to the satisfaction of
the funding commission, to be for a reasonable cause.
(10) "Assessment payer" as used in this section means insurance carrier, self-insured
group, and self-insured employer.
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 54, sec. 5, effective July 14, 2018. -- Amended
2017 Ky. Acts ch. 74, sec. 100, effective June 29, 2017. -- Amended 2005 Ky. Acts
ch. 7, sec. 38, effective March 1, 2005. -- Created 1990 Ky. Acts ch. 33, sec. 5,
effective July 13, 1990.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
