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County group reduces workers’ compensation fees again

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Most New Mexico counties will receive 50% discounts for their workers’ compensation programs for the second year, and Chaves County will save $158,130 for the 2021-2022 policy year starting July 1.

The New Mexico County Insurance Authority Board of Directors voted Wednesday to reduce by 50% the amount that 30 counties that participate in the self-insurance pool will have to pay for coverage for 2021-2022, according to a news release. The reductions in contributions total $3,829,209.

“The financial strength of the pool allows the board to provide much needed financial assistance to our members by substantially reducing contributions for the second year in a row,” said Board Chair Lance Pyle. “While economic recovery and a return to normal operations has begun, our members’ resources are stretched and this assistance helps them provide for critical services.”

Chaves County has saved $318,951 during the past two years, according to Susan Mayes, communications director for New Mexico Counties. For the 2020-21 policy year, the savings was $160,821.

The New Mexico County Insurance Authority self-insurance pool has provided compensation coverage to participating county governments since 1987. It also provides counties with property and liability coverage and law enforcement liability coverage.

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