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2018 Unemployment Cost Facts for Massachusetts

2018 MA

 

What do state unemployment tax (SUTA) costs and claim costs mean to your organization?

These factors could mean less money for your cause.

$541 Average SUTA Cost per Employee

Massachusetts employers pay an annual average of $541 per employee in state unemployment tax (SUTA) costs.

Unemployment Claim Stats

$34,590 Total Maximum Benefits

A claimant can collect up to a maximum of $34,590 on a single claim in Massachusetts

$311 Million Unemployment Claim Overpayments

Massachusetts’ fiscal year 2017 unemployment claim overpayment rate was 21.548%, equaling over $311 million ($100 million more than fiscal year 2016 overpayments).

$697 2020 Average SUTA Cost per Employee

Massachusetts uses rate schedules to assign unemployment tax rates. 2018 rates are based on those listed on schedule D. It has been announced that schedule E will be used for 2019 tax rates, increasing rates by another 13.5% across the board. Schedule F will be used for 2020 rates, increasing rates by another 13.5%! Average SUTA costs per employee are estimated to increase to:

2019: $614

2020: $697

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call (312) 239-8385 to request a free, no-obligation cost savings evaluation. Evaluations include a 2019 rate projection!

New Association Partner: Massachusetts Nonprofit Network

 

MNN logo

First Nonprofit Group is proud to announce our new partnership with the Massachusetts Nonprofit Network (MN). It is MNN’s mission to strengthen the nonprofit community through advocacy, public awareness, and capacity building. MNN has more than 650 nonprofit members from every region of the Commonwealth.

We look forward to helping our newest partner and its members save money on their State Unemployment Insurance costs to free up funding that can be used in other areas of operation to help individuals and families throughout Massachusetts.

To learn more about the Massachusetts Nonprofit Network, please visit their website: http://massnonprofitnet.org/

Fast Unemployment Cost Facts For Massachusetts

MA Fact Sheet

What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?

These facts could mean less money for your cause.

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Click here or call (860) 571-3189 to request a free, no-obligation cost savings evaluation. Evaluations include a 2018 rate projection!

Did you know Massachusetts had over $143 Million in Unemployment Claim Overpayments?

MA pic

What do state unemployment taxes (SUTA), benefit amounts and claim overpayment rates mean to your nonprofit?

These factors could mean less money for your nonprofit  organization’s cause.

$460+ SUTA Tax Cost Per Employee

Massachusetts has long been a high-cost state when it comes to employer unemployment insurance. Since the latest recession, the average state unemployment tax (SUTA) cost has stayed at over $460 per employee.

$143 Million Unemployment Claim Overpayments

Massachusetts’ April 2014-March 2015 unemployment claim overpayment rate was 9.960%, equaling over $143 Million.

$990 – $31,410 Full Unemployment Benefit Amounts

An unemployment claim can range from $990 to $31,410 per claimant, if collected for the maximum benefit duration of 30 weeks.

There are options to financing your nonprofit  organization’s unemployment costs.

First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Below is a sample savings analysis of one of our members since 2011.

MA graph pic

First Nonprofit Group provides state compliant individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. We provide more than 1,800 organizations around the country with unemployment insurance at affordable rates. Click here or call 1-(800) 526-4352 to request a free, no-obligation cost saving evaluation. Evaluations include a 2017 rate projection!

What’s the Overpayment Rate in Your State?

The Benefit Accuracy Measurement program (BAM) released the overpayment rates for all state unemployment agencies earlier this year. The program is designed to determine the accuracy of paid and denied claims. The national overpayment rate sits at 10.67%.

 

2012 Loan Interest Due to the Federal Government

Over 30 state unemployment agencies have had to borrow money from the federal government in order to replenish their own unemployment unemployment trust funds.  Last year, several of these states began to pay interest owed to the federal government. In 2012, the states listed below will owe over $874 million in loan interest only.  In order to cover loan interest payments, some states have assessed surcharge rates to employers.  To see if your state unemployment agency has introduced any of these surcharges, please visit your state’s page in our ‘State Info‘ section.

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