New Mexico Compensation Administration Checklist
Description
How to fill out Compensation Administration Checklist?
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FAQ
Worker's Compensation is an insurance providing medical care and/or benefits to any employee that suffers any injuries or illness as a direct result of employment. Workers' compensation coverage is mandatory in the United States.
In Mexico, the term workers' compensation is not used. The general term is riesgos de trabajo or job risks.
Who needs workers' comp insurance in New Mexico? New Mexico imposes strict workers' compensation insurance rules on employers. All businesses with three or more employees must provide workers' comp coverage, and construction businesses of any size are required to carry coverage.
New Mexico workers' compensation law requires coverage for all employees engaged in construction activities. Employers required to be licensed under the provision of the Construction Industries Licensing Act must purchase workers' compensation insurance coverage regardless of the number of employees.
Workers' Compensation Assessment Fee The fee is similar to a tax, and is $4.30 per employee per calendar quarter. Employers contribute $2.30, multiplied by the number of covered employees working on the last working day of the quarter.
You may sue your employer outside of workers' comp if:Your employer's actions caused direct harm to you. If your employer intentionally tried to physically harm you, such as shoving or punching you, you can pursue legal action against him or her.Your employer does not have adequate compensation insurance.
If you're injured on the job and can't work, you should be able to file for workers' compensation benefits. A successful claim will replace two-thirds of your wages plus pay for medical care and rehabilitation. If you lost the use of a part of your body, you might get payment, depending on which body part is injured.
Workers' Compensation Assessment Fee The fee is similar to a tax, and is $4.30 per employee per calendar quarter. Employers contribute $2.30, multiplied by the number of covered employees working on the last working day of the quarter.
Compensation is 66 2/3 percent of the injured New Mexico workers wage. Minimum weekly payment is $36 or the workers actual wage if it is less. Maximum weekly payment is 100 percent of the New Mexico sate average weekly wage or $669.21. Maximum number of payments is for the lifetime of the injured New Mexico worker.
Workers' compensation not only protects your business from financial loss, but it is also required by law in most states if you have employees. Workers' compensation insurance provides valuable protection for you and your employees.
