Massachusetts workers comp rates dip slightly for 2016Reprints
Private employers in Massachusetts are seeing a 0.05% workers compensation rate decrease for fiscal year 2016, the state's Workers' Compensation Rating and Inspection Bureau said.
Effective July 1, the assessment rate for private employers in Massachusetts is 5.75%, down from 5.8% in the 2015 fiscal year, the bureau said Thursday in a statement.
The Department of Industrial Accidents, which oversees the workers comp system in Massachusetts, establishes assessment rates each year, according to a Wednesday statement by the state's Labor and Workforce Development office.
“After reviewing the current assessment rate and the economic outlook for next year, we recommended lowering the rate,” Ronald Walker II, secretary for Labor and Workforce Development, said in the statement. “This will further support businesses, and anything we can do to support businesses and spur job growth is a very good thing.”