MCSKI CONTRACTOR SERVICES LLC

618 S WHITE HORSE PIKE
AUDUBON, NJ 08106

Talking Points

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Very Good, in the 8th percentile compared to peers.
  • In the last year, premium Increased by more than 75% of peers.
Needs Attention

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 27% of peers have changed carriers since last year. Those who did, saw a 47% decrease in premium vs those who stayed with their current provider had a 10.7% decrease, roughly 4x those who stayed with their current provider. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 27% of peers who changed carriers, This might indicate carriers are competing aggresively for similar businesses to cover.
  • Current Carrier's market share is in the 75th percentile at 7.6% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier Premium
2023
AR
2022
AR
2021
AR
2020
AR
2019

2016

Contacts

QIRPRN RRTNZ
Benefits Admin
(161) 117-8394
b9a4

8
(370) 362-2763
cab

Industry Classification

Retirement Benefits

Financials

202120202019
BOY Assets: $ 43,135 $ 58,739
Liabilities: $ 0 $ 2
EE Contrib: $ 21,750 $ 78,587 $ 13,604
Emp Contrib: $ 0 $ 0 $ 0
Income/Loss: $ 7,249 $ 3,065 $ 3,024
Total Income: $ 28,999 $ 82,481 $ 6,213
Paid Benefits: $ 9,220 $ 90 $ 67
Expenses: $ 0 $ 4
  Commission: $ 1,013 $ 875 $ 77
Net Income: $ 18,766 $ 98,841 $ 73,129
Net Assets: $ 61,901 $ 21,008 $ 9,048

Participants

202120202019
Total Participants:494
Active Part.:269
Retired Part.:fafaa
Deceased Part.:7f

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.