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The average premium for workers compensation coverage in Washington state will go up 0.7% in 2017, the state Department of Labor & Industries said in a Wednesday statement.
Labor & Industries is the workers comp insurer for the state of Washington, covering about 2.6 million workers and more than 170,000 employers, according to the statement.
The increase will cost employers on average about $10 more a year per employee, according to the statement from Labor & Industries.
Washington state workers also pay into the state’s workers comp system. Most workers will not see an increase in what they pay, Labor & Industries said.
Expected workers comp payouts, the size of the Labor & Industries reserve fund, wage inflation and other financial indicators factor into determining rates, the statement said.
Workers compensation advisory rates for Washington state businesses will increase 0.8% in 2015, the state Department of Labor & Industries said Tuesday.