The Oregon Department of Consumer and Business Services announced an 8.4% average reduction in pure premium rates for employers in 2020.
The department each year adopts by rule the workers’ comp premium assessment rate that is paid by all employers to fund workers’ comp and workplace safety and health programs.
In the “Permanent Administrative Order,” filed with the Secretary of State on Oct. 1, 2019, the department explained that the 2020 premium assessment rate will go into effect on Jan. 1, 2020.
Based on economic forecasts, department analysts recommended a premium assessment rate of 8%. The proposed increase from 7.8% to 8.4% will allow the department to maintain current service levels throughout 2020.
Additional assessments to fund the Self-Insured Employer Adjustment Reserve and Self-Insured Employer Group Adjustment Reserve are expected to decline by 50% from 2019 levels.
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