The Washington state Department of Labor & Industries (L&I) announced this week a 0.8 percent average rate increase in the 2015 workers’ compensation premiums. The increase comes out to about an additional one-half a cent per hour worked.
The 0.8 increase is a full percentage point below the 1.8 percent increase proposed in September. The change saves workers and employers approximately $20 million.
“We’re doing our best to keep rates steady and predictable, while making sure the workers’ compensation system stays strong,” said L&I Director Joel Sacks in a press release. “Workers can be confident that our system is going to be there, ready to help them if they’re ever hurt on the job.”
Employers and workers around Washington pay into the workers’ compensation system so they’re covered if someone gets hurt while working or becomes ill from a workplace exposure. Last year, L&I covered more than 80,000 work-related injury and illness claims in Washington state.
The 2015 premium increase will help cover wage and disability benefits, as well as medical costs for treatment of injuries and illnesses. It will also allow L&I to continue to build reserves to protect against the unexpected.
The new rates take effect January 1. For more information, visit www.Lni.wa.gov/Rates.
