Overview of the 2019 Iowa Fee Schedule
The Iowa Workers' Compensation Board publishes an annual fee schedule that lists the premium rates employers pay per employee per year. In 2019, the schedule included a base rate of $3.00 per employee plus additional charges based on industry classification and payroll. The schedule is structured into 17 industry classes, each with its own rate multiplier.
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Key Rate Components
| Component | 2029 Detail | Context |
|---|---|---|
| Base Rate | $3.00 | Per employee per year |
| Industry Multiplier | 0.5x–2.5x | Varies by risk level |
| Payroll Factor | 0.02%–0.15% | Percentage of gross payroll |
| Administrative Fee | $50–$200 | Fixed per employer |
Calculating Your Premium
To estimate your 2019 premium, multiply the base rate by the industry multiplier, add the payroll factor, and include the administrative fee. For example, a manufacturer with a 1.5x multiplier, $500,000 payroll, and a $100 fee would pay:
- Base: $3.00 × 1.5 = $4.50 per employee
- Payroll: 0.10% × $500,000 = $500
- Fee: $100
- Total: ($4.50 × employee count) + $600
Coverage Tiers and Benefits
The 2019 schedule also delineated three coverage tiers: Basic, Enhanced, and Premium. Each tier offered varying limits on medical costs, wage replacement, and disability benefits. Employers could select a tier based on their risk appetite and financial capacity.
Compliance and Reporting Requirements
Employers must file quarterly payroll reports with the Board and submit any claim information within 30 days of an incident. Failure to comply can result in penalties ranging from $100 to $1,000 per violation.
Impact on Small Businesses
Small employers often rely on the fee schedule to budget accurately. Understanding the specific class and rate multiplier helps avoid overpaying and ensures adequate coverage for employees.