The application fee for all applicants is $500. The fee is submitted with the application for self-insurance and is made payable to the Georgia Self-Insurers Guaranty Trust Fund.
The initial assessment for all applicants is $8,000. This assessment is due to the Georgia Self-Insurers Guaranty Trust Fund at the time the employer's self-insurance commences.
After the initial year of self-insurance, assessments are computed at 1.5 percent of the total medical and indemnity paid the previous year. There is a maximum assessment of $8,000 and a minimum assessment of $2,000. Annual assessments are due 45 days from the date of the assessment invoice. If the assessment is not received by the Georgia Self-Insurers Guaranty Trust Fund within 45 days, the company will be penalized.
Penalties are assessed at the direction and discretion of the Board of Trustees of the Georgia Self-Insurers Guaranty Trust Fund. Generally, penalties are computed at $50 per day or 10% of the annual assessment, whichever is greater.