California tops ranking of most expensive workers comp ratesPosted On: Oct. 18, 2016 10:31 AM CST
California, New York and New Jersey have the highest workers compensation premium rates in the country, according to a state ranking published Monday by the Oregon Department of Consumer and Business Services.
The department issues its ranking of workers comp premium rates for 50 states and Washington every other year. The ranking is based on workers comp rates in effect as of Jan. 1, 2016, and the states were compared with a national median workers comp premium rate of $1.84 for this year, the department said in a statement.
The study reported that California's workers comp premium rate was $3.24 per $100 of payroll, making it the most expensive state in the Oregon study. New Jersey came in second place at a rate of $2.92 per $100 of payroll, while New York was in third place with a rate of $2.83 per $100 of payroll.
California, New Jersey and New York were ranked No. 1, No. 3 and No. 4, respectively, in Oregon's 2014 study.
North Dakota, Indiana and Arkansas were the states with the least expensive workers comp premium rates, keeping their same rankings from 2014, according to the study. North Dakota had a premium rate of 89 cents per $100 of payroll this year, while Indiana's rate was $1.05 and Arkansas' was $1.06.
Oregon ranked No. 45 in its own study with a premium rate of $1.28 per $100 of payroll for 2016. The state was No. 43 in its 2014 report.