2019 Fund Year Renewal

Newsletter Update

With the 2019 Fund Year Renewal, we are pleased to announce:

5% RATE DECREASE

EFFECTIVE 4/1/2019

Based on positive actuarial results, rates will decrease for the upcoming 2019 Fund Year, from 4/1/2019 through 3/31/2020. This is the 13th consecutive year that HomeBuilders SIF rates have not increased. Contact Client Services if you have any questions.

$2.5 MILLION DIVIDEND DISTRIBUTION

PAID BY 3/15/2019

The HomeBuilders SIF Board of Trustees recently declared a $2.5 Million Dividend to be distributed to qualifying members. Individual participant dividends are based on a number of factors, including premiums paid and claims experience for the fund years from which the dividends are being paid. Members must also be active at the time of distribution.

Once this distribution is paid, nearly $95 Million will have been returned to fund participants since our inception.

RENEWAL PAYMENTS ACCEPTED ONLINE

You may securely pay your renewal invoice online at members.lhbasif.com.

If you are a First-Time User, you will need to establish a User Account and Password in order to submit a payment. Once you are registered to pay online, you may continue to utilize this feature to pay your monthly interims online. It is quick, easy and available at no extra charge.
 
In most cases, only the $200 annual expense constant is required to renew the policy, although in some instances, additional deposit may also be required. The estimated payrolls detailed on your Policy Declarations page are calculated based on the actual payrolls reported by you during the current 2018 fund year (projected for a 12-month period), or based on the prior fund year audited payrolls. If additional deposit is due at renewal, it is based on estimated payrolls having increased from the current year's estimated payrolls or from the most recent audit. Additionally, some billings may include fees for waivers, if applicable.  

YOU WILL RECEIVE YOUR 2019 FUND YEAR RENEWAL INVOICE BY MAIL SOON.  RENEWAL PAYMENTS ARE DUE IN OUR OFFICE BY 4/1/2019.

NCCI PAYROLLS

FOR INCLUDED OWNERS/OFFICERS/
PARTNERS/LLC MEMBERS

NCCI (National Council on Compensation Insurance) has adopted the following payroll limitations for Owners, Officers, Partners and LLC Members who are INCLUDED for coverage on their workers’ compensation policy:

For members renewing their coverage April 1, 2019, and for new accounts effective prior to May 1, 2019, the following payrolls apply:

  • Sole Proprietors – A fixed annual payroll of $45,200 applies (report $3,766 monthly).
  • Partners – A fixed annual payroll of $45,200 applies (report $3,766 monthly).
  • Corporate Officers and Members of LLCs – Report actual payroll subject to a minimum annual payroll of $44,200 and a maximum annual payroll of $135,200. 
For policies effective on or after May 1, 2019, the following payrolls apply:
  • Sole Proprietors – A fixed annual payroll of $46,100 applies (report $3,841 monthly).
  • Partners – A fixed annual payroll of $46,100 applies (report $3,841 monthly).
  • Corporate Officers and Members of LLCs – Report actual payroll subject to a minimum annual payroll of $46,800 and a maximum annual payroll of $140,400.

CONTACT US

PHONE
877.LHBASIF (877.542.2743)
225.387.0286 LOCAL
225.334.0666 FAX