The state Department of Labor & Industries (L&I) is proposing a 4.8 percent increase in the average price employers and workers pay for workers’ compensation insurance next year. If adopted, the increase would mean employers and workers would jointly pay an additional $61 a year, on average, for each full-time employee within a business.
“Even with the increase, the average hourly rate businesses will pay will be about the same as what they were paying in 2016,” L&I Director Joel Sacks said. “After keeping rates steady to help businesses that were struggling during the pandemic, we’re now proposing a modest rate increase that’s in line with our goal of stable and predictable rates for businesses to ensure the long-term health of the workers’ compensation fund.”
On average, workers will continue to pay about a quarter of the premium, a similar percentage to that paid in 2022.
Public hearings are scheduled for 10:00 AM on October 26 and 27 to take input on the rate proposal before making a final decision. L&I will hold these hearings virtually on the Zoom platform. Final rates will be adopted on November 30 and will go into effect on January 1, 2023.
For more information, go to the L&I website.