Workers’ compensation premiums are going up next year, but not as much as originally proposed.
The average increase increase will be 0.8 percent in 2015, less than half the original 1.8 percent increase proposed in September, according to a news release from the Washington State Department of Labor & Industries.
A major factor in the decision to go with a lower increase was because of improved third-quarter financial numbers for the state’s compensation system. Public input was also considered, according to the news release. Going with the lower rate will save workers and employers about $20 million.
Employers and workers pay into the state’s workers’ compensation system. The new rates take effect Thursday, Jan. 1. For details, visit Lni.wa.gov/Rates.
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