The cost of workers’ compensation insurance is declining for the fourth consecutive year in Pennsylvania.
The state departments of Insurance and Labor & Industry said on Friday, March 27, that overall rates will decline by 5.99 percent while benefits for injured workers remain unchanged. The changes take effect Wednesday, April 1, and will save businesses an estimated $140 million this year.
Officials say the effect on individual businesses will vary based on their risk classification, claims experience and other factors. Not all employers will see a decrease in rates.
Workers’ compensation covers medical care and rehabilitation for workers injured on the job, and lost wages and death benefits for employees killed in work-related accidents.
More than 10,000 certified workplace safety committees have been established. Employers that establish such committees receive a discount on insurance.
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