New Hampshire Revised Statutes 281-A:11 – Self-Insurance for Public Employers
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Any public employer as defined in N.H. Rev. Stat. § 281-A:2, IX may, subject to N.H. Rev. Stat. § 281-A:5, III and the rules adopted to enforce that section, self-insure for workers’ compensation coverage as follows:
I. If a public employer chooses to self-insure for workers’ compensation coverage, the legislative body of that employer shall appropriate sufficient funds to implement a self-insurance program including, but not limited to, legal costs, benefits, and administrative costs.
II. The amount of appropriated funds shall be based on an actuarial determination of the amounts needed for self-insurance purposes. Any appropriated funds that are not encumbered under this section at the end of the fiscal year may be transferred to the general fund of the public employer.
III. Each year, as actuarially determined, the legislative body shall appropriate sufficient funds to create a financial reserve until all outstanding claims are disposed of. If additional funds are needed to increase the loss fund in any given year, the legislative body shall appropriate such funds as are necessary.
IV. Any income from investment of the loss fund may be returned annually to the general fund of the public employer or may be applied to the ensuing year’s appropriation to the loss fund.
V. A public employer may also purchase from an insurance carrier such levels of insurance as it deems appropriate to provide coverage in excess of the amount in the loss fund.
VI. Any public employer self-insuring for workers’ compensation coverage under this chapter is not an insurance company, reciprocal insurer or other insurer under the laws of this state, and administration of any activity of securing compensation to employees thereunder shall not constitute doing an insurance business for any purposes under title XXXVII.
VII. The department of labor shall have exclusive jurisdiction over any public employer or group or association of public employers self-insuring for workers’ compensation coverage under this chapter or RSA 5-B.
I. If a public employer chooses to self-insure for workers’ compensation coverage, the legislative body of that employer shall appropriate sufficient funds to implement a self-insurance program including, but not limited to, legal costs, benefits, and administrative costs.
Terms Used In New Hampshire Revised Statutes 281-A:11
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Employer: with respect to private employment, means:
(a) A person, partnership, association, corporation, or legal representative of a person, partnership, association or corporation who employs one or more persons whether in one or more trades, businesses, professions or occupations and whether in one or more locations. See New Hampshire Revised Statutes 281-A:2 - Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Insurance carrier: shall include any corporation licensed to sell insurance in this state from which an employer has obtained a workers' compensation insurance policy in accordance with the provisions of this chapter. See New Hampshire Revised Statutes 281-A:2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- legislative body: shall mean a town meeting, school district meeting, village district meeting, city or town council, mayor and council, mayor and board of aldermen, or, when used to refer to unincorporated towns or unorganized places, or both, the county convention. See New Hampshire Revised Statutes 21:47
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. The amount of appropriated funds shall be based on an actuarial determination of the amounts needed for self-insurance purposes. Any appropriated funds that are not encumbered under this section at the end of the fiscal year may be transferred to the general fund of the public employer.
III. Each year, as actuarially determined, the legislative body shall appropriate sufficient funds to create a financial reserve until all outstanding claims are disposed of. If additional funds are needed to increase the loss fund in any given year, the legislative body shall appropriate such funds as are necessary.
IV. Any income from investment of the loss fund may be returned annually to the general fund of the public employer or may be applied to the ensuing year’s appropriation to the loss fund.
V. A public employer may also purchase from an insurance carrier such levels of insurance as it deems appropriate to provide coverage in excess of the amount in the loss fund.
VI. Any public employer self-insuring for workers’ compensation coverage under this chapter is not an insurance company, reciprocal insurer or other insurer under the laws of this state, and administration of any activity of securing compensation to employees thereunder shall not constitute doing an insurance business for any purposes under title XXXVII.
VII. The department of labor shall have exclusive jurisdiction over any public employer or group or association of public employers self-insuring for workers’ compensation coverage under this chapter or RSA 5-B.