Labor & Industries is proposing no increase to employers next year in average workers’ compensation insurance premiums.
If it adopts the proposal later this year, it would be the first time in 20 years that insurance rates have dropped or held steady for four years in a row.
“Our 2021 rate proposal recognizes the toll the pandemic is taking on employers and workers in our state,” L&I Director Joel Sacks said. “Although our projected workers’ compensation costs are going up, we’re keeping premiums the same by taking advantage of the reserves we’ve built over the years by improving services and reducing disability.”
Employers and workers pay into the workers’ compensation system to help cover the cost of providing wage and disability benefits for injured workers, as well as medical treatment of injuries and illnesses.
To support social distancing, public hearings on the rate proposal will be held virtually this year. Two hearings are scheduled to take input about the rate proposal before a final decision is made. Final rates will be adopted by Nov. 30 and go into effect Jan. 1, 2021.
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