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.
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