Instructions for Workers' Compensation Self-insurance Application - Montana

This document was released by Montana Department of Labor and Industry and contains the most recent official instructions for Workers' Compensation Self-insurance Application .

FAQ

Q: What is workers' compensation?A: Workers' compensation provides benefits to employees who get injured or become ill at work.

Q: What is self-insurance?A: Self-insurance allows employers to directly fund their own workers' compensation claims instead of purchasing insurance from a provider.

Q: How can I apply for workers' compensation self-insurance in Montana?A: To apply for workers' compensation self-insurance in Montana, you need to complete the application form and submit it to the Montana Department of Labor and Industry.

Q: What do I need to include in the self-insurance application?A: The self-insurance application in Montana requires you to provide information about your business, financial statements, and proof of financial ability to cover workers' compensation claims.

Q: Is there a fee for the workers' compensation self-insurance application?A: Yes, there is an application fee for workers' compensation self-insurance in Montana. The fee amount can be found on the application form.

Q: What happens after I submit the self-insurance application?A: After you submit the self-insurance application, it will be reviewed by the Montana Department of Labor and Industry. They will assess your financial ability and determine if you are eligible for self-insurance.

Q: Are there any ongoing requirements for self-insured employers?A: Yes, self-insured employers in Montana are required to maintain adequate reserves, submit annual reports, and comply with other ongoing requirements set by the Montana Department of Labor and Industry.

Q: What are the benefits of self-insurance for employers?A: Self-insurance can potentially reduce costs for employers, provide more control over the claims process, and allow for tailored coverage based on the specific needs of the business.

Q: Are there alternatives to self-insurance for workers' compensation?A: Yes, employers can choose to purchase workers' compensation insurance from private insurance companies in Montana instead of opting for self-insurance.