LANSING, Mich. — Members of the Michigan Counties Workers’ Compensation Fund (MCWCF) will receive nearly $3.2 million in premium dividends for the 2018 plan year, adding to a dividend total of more than $28 million in the last 10 years…
NEWS (1/08/20):Counties’ fund announces $3.2 million dividend for workers’ comp members
LANSING, Mich. — Members of the Michigan Counties Workers’ Compensation Fund (MCWCF) will receive nearly $3.2 million in premium dividends for the 2018 plan year, adding to a dividend total of more than $28 million in the last 10 years alone.
These dividends result from “surplus” funds from policy premiums paid by members but not utilized due to the fund’s excellent claims management and innovative loss prevention strategies, explained Timothy K. McGuire, the fund’s administrator.
“Our consistent focus on employee safety is the story here,” McGuire said. “If employees avoid injuries, our members avoid health costs, thereby keeping costs down for the fund and allowing the fund to release more dollars back to the members.”
The fund, a nonprofit, member-owned pool, was started in 1979. Its 80 current members include county governments, medical care facilities, housing commissions, road commissions, transport authorities, community mental health agencies and villages. Dividend checks issued this year derive from the fund’s 2018 plan year.
“Another year and another excellent result for our members” said Doug Johnson, president of the fund’s board and a commissioner for Otsego County. “The partnerships we have with CompOne and Midwest Employers Casualty allow the fund to provide top-notch customer service and safety guidance.”
In addition to issuing record dividends, the fund continues its Loss Prevention Grants program, which, after two rounds of grants in calendar 2019, has now provided about $220,000 since 2014. These grants help members to make investments in equipment to protect employees on the job.
The MCWCF (www.micounties.org/index.php/mcwcf) is managed by an 11-member Board of Trustees whose counties participate in the fund. For more information about the fund and its services, contact Administrator Timothy K. McGuire at 517-712-4899 or tmmac24@gmail.com.