Pennsylvania workers comp rates to go down nearly 6%Posted On: Mar. 30, 2015 12:00 AM CST
Workers compensation advisory rates will decrease 5.99% for Pennsylvania employers on Wednesday, according to Pennsylvania Gov. Tom Wolf.
The decrease is based on a rate filing submitted in December by the Pennsylvania Compensation Rating Bureau, which said Pennsylvania workers comp claim frequency has declined during the last several years.
The advisory rate decrease could save Pennsylvania employers up to $140 million in workers comp premiums this year, Gov. Wolf said Friday in a statement.
“A constant concern for business owners is reducing costs while supporting employees' health and livelihood,” according to the statement. “These rate reductions will go a long way toward ensuring business owners can continue to create and support jobs that pay in Pennsylvania.”
This is the fourth year in a row that Pennsylvania workers comp advisory rates have decreased, according to the governor's statement.