In Pennsylvania, the workers' compensation rate is scheduled to drop by 4 percent as of April 1, says Mike Consedine, insurance commissioner for the Pennsylvania Department of Insurance.
"We are very pleased with the rate reduction, which is the second workers' compensation decrease in a row," Consedine says. "The lower rate will benefit Pennsylvania employers with ongoing cost savings."
With this rate cut, up to $100 is projected to be saved in premiums for Pennsylvania employers, which is estimated based on employer risk classifications and could vary by claims experience, payroll and other factors, according to the Pennsylvania Department of Insurance. This will not impact all employers.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
