An employer who wishes to self insure for workers' compensation in New York State can do so in one of two ways:
(1) by becoming an individual self-insurer
(2) by becoming a member of a self insured group. Joining a group is an alternative to carrier or State Fund coverage for employers who may not be able to self-insure on an individual basis.



1. Give you substantial cost savings with regard to your Workers’ Compensation expenses.

2. Significantly reduce the rate and severity of work-related injuries of your employees.



Stop Loss and Aggregate insurance is purchased to specifically limit the Trust's liability for both individual and aggregate claims. This places a definite cap on the Trust's and its member's maximum liability.



Investment income is added to the surplus account and this account becomes the first source in funding any claims expense shortages.



An actuarial analysis was performed prior to the formation of the H.O.N.Y. Trust to ensure the collection of adequate premium for the funding of both claims and expenses.



Underwriting criteria will not be sacrificed for premium growth. Each member has an experience modifier of less than 1.3. Each Member agrees to continue with and or adopt specific loss control programs that impact the frequency and severity of a facility's losses, such as Transitional Return to Work Programs, Low Lift Resident Transfer Program, etc.



Each H.O.N.Y. Trust member purchases monthly Accident Prevention Services to address their specific areas of need that are resulting in workers compensation losses. Most of the facilities' participating have seen the impact of an effective accident prevention program in reducing the costs associated with workplace accidents and remain committed to continuing their success.



Each H.O.N.Y. member will receive monthly claims oversight as well as quarterly reviews of open claims. This is in addition to the third party handling of workers compensation claims from EM Management.