The workers’ comp insurance rate drops for third year in a row

Nov 27, 2019
Written by wpengine

Insurance rates for workers’ compensation insurance will drop next year for the third year in a row.

However, because the average wage for workers has gone up statewide, workers will see a small increase in what they pay for the insurance starting in January.

This week, Labor & Industries announced an average rate cut of 0.8% compared to prior rate cuts of 2.5% in 2018 and 5% in 2019. Under next year’s rate, employers will pay an average of about $15 less per employee for a year of coverage.

L&I determines rates by looking at expected payouts, the size of its savings account, wage inflation and other indicators.

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