Idaho Self-Insured Consent of the Board of Directors is a document that is required to be signed by the board of directors of an Idaho business before the business can become self-insured. The document is a written consent that gives the business the authority to become self-insured and to manage its own risk. It also explains the risks that the business may be exposed to as a result of self-insuring. There are two types of Idaho Self-Insured Consent of the Board of Directors: Category 1 and Category 2. Category 1 consent is required for businesses that are legally authorized to self-insure in the state of Idaho. Category 2 consent is required for businesses that are not legally authorized to self-insure in the state of Idaho, but which wish to do so. Both categories of consent require the board of directors to review and approve the risk management plan, as well as the financial and legal requirements for self-insurance.
Idaho Self-Insured Consent of the Board of Directors
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Workers Compensation Insurance: Employers having one or more full-time, part-time, seasonal or occasional employees must provide workers compensation insurance unless specifically exempt under Idaho law.
In Idaho, every employer with one or more employees needs workers' compensation insurance. This includes full-time and part-time employees, as well as seasonal and occasional workers. For employees who have a work-related injury or illness, workers' comp helps provide: Medical benefits.
Idaho worker's comp provides payments for medical treatment, lost wages, and permanent disability. Workers' compensation in Idaho is a mandatory insurance program designed to compensate injured workers for medical care and lost wages.
Exemptions from workers' compensation requirements in Idaho include: Sole proprietors and independent contractors. Family members employed by a sole proprietor and living in the same household. Some family members of sole proprietors who don't live in the same household may file for an exemption.
Ask your employer or the Idaho Industrial Commission for a First Report of Injury or Illness form. Fill out the form to the best of your ability. Return your completed form to the Idaho Industrial Commission's main office in Boise.
Inclusions in payroll for Workers Compensation insurance: Wages or salaries, including retroactive wages.Commissions and draws against commissions. Bonuses including stock bonus plans. Extra pay for overtime work, with exception. Pay for holidays, vacations, or periods of sickness.