MEMORANDUM


TO: Members of the Georgia Self-Insurers Guaranty Trust Fund

FROM: John P. Reale, Administrator

DATE: December 1, 2008

RE: Important Changes, Notifications, and Reminders


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Per the request of the State Board of Workers’ Compensation please note the following changes to the 2009 Member Information Update Form:

 

1. Regarding question #1 for Active & Cancelled Members:
 
•
 All members are now required to list their FEIN (Federal Employment Identification Number).
2. Regarding question #2 for Active & Cancelled Members:
 
•
 All members are now required to list their Third-Party Administrator’s FEIN (Federal Employment Identification Number).
•
 All members are now required to provide a copy of their Third-Party Administrator’s Georgia license.
3. Regarding question #16 for (Active Members) & #13 for (Cancelled members):
 
•
 All members are now required to submit a loss run by claimant noting the individual reserve for all open claims as of 12/31/08. Please note, that this will be an annual requirement. For example, the 2010 update form should include a loss run of all open claims as of 12/31/09.
4. We are proud to announce that at the beginning of 2009, the Georgia Self-Insurers Guaranty Trust Fund’s website will be updated and available for use. It is our hope that these website upgrades will provide a more convenient and pleasant experience for our members to easily access various information, forms, and links pertaining to the Fund. Please visit the newly constructed website at www.gaguaranty.com and take a look for yourself!
5.

As a reminder, if a self-insured company decides to cancel its self-insurance, it must notify the Georgia Self-Insurers Guaranty Trust Fund or the State Board of Workers' Compensation in writing of its intention to cancel its self-insurance, providing the effective date of the cancellation and the name of the insurance carrier going forward.


Please note: Employers who cancel self-insurance will continue to be responsible for all claims which occurred during their period of self-insurance. Therefore, the Georgia Self-Insurers Guaranty Trust Fund will maintain the security on file for cancelled members.

Please visit our website at www.gaguaranty.com for additional listings of cancelled member requirements.

 
6. Please note, there is now a new requirement to be considered for an elimination of security.

Members must meet the following criteria:

•
 Canceled for at least two (2) full years
•
 All self-insured claims must be closed by the State Board of Workers' Compensation for a minimum period of two (2) years following the cancellation date.
•
 NEW REQUIREMENT: The employer cannot have made any payouts during the last twelve (12) months and the employer must confirm that they have not received any unpaid medical invoice(s) over this same period.

 

Should you have any questions, please do not hesitate to contact us at the number listed above.

 

Thank you in advance for your cooperation.