The Pennsylvania Department of Insurance announced last week that insurance rates for workers’ compensation insurance would go down for the second straight year. The reduction in rates could save Pennsylvania employers nearly $110, 000, 000 combined. The reduction is at a rate of 4%.
The new rates went into effect on April 1, 2013.
Employers often cite workers’ compensation insurance rates as a problematic cost in Pennsylvania. However, they have benefited for two consecutive years in having rate reductions. Hopefully they will use those costs savings to implement other safety programs to protected injured workers.
