Employers to see comp rates nudge upwardsReprints
Idaho employers will see slightly higher workers compensation rates in 2016, the state's Department of Insurance said.
In a Wednesday statement, the Idaho Department of Insurance said an overall 0.2% workers comp rate increase was recommended by the National Council on Compensation Insurance Inc.
The increase follows a 0.2% rate cut in 2015, according to the department.
“The change in the 2016 workers compensation rates is a reflection of the stability of Idaho's worker compensation system,” Mike Taylor, state relations executive at Boca Raton, Florida-based NCCI, said in the statement. “Frequency of lost time claims has remained consistent, and the average indemnity costs of those claims have declined.”
While medical costs have increased, the average medical cost per claim remains one of the lowest in the region, Mr. Taylor added.
The overall 0.2% increase will take effect Jan. 1, 2016, a department spokeswoman said.