PA Workers Compensation rates scheduled to decline Wednesday, April 1st, 2015
PA Workers Comp rates decrease for the 4th year in a row!
On Friday, March 27, the state departments of Insurance and Labor & Industry announced Workers compensation rates will decrease 5.99% for Pennsylvania employers, while benefits for injured workers remain unchanged.
The decrease, scheduled to go into effect Wednesday, April 1st 2015, is based on a rate filing submitted in December by the Pennsylvania Compensation Rating Bureau, which indicates Pennsylvania workers comp claim frequency has declined during the last several years.
According to Business Insurance, an online magazine, Gov. Tom Wolf stated on Friday:
“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 and is slated to save Pennsylvania employers up to $140 million in workers’ comp premiums this year.
If you or someone you know is hurt on the job, contact the 2014 Super Lawyers and AV Preeminent Philadelphia certified workers compensation specialists at PearsonKoutcher, LLP. With over three decade of combined experience representing injured workers in workers compensation matters, the Philadelphia workers’ compensation lawyers of PearsonKoutcher, LLP can promptly and effectively develop a strategy to help you through a difficult time.