L&I holds workers’ compensation rates flat in 2013

The Washington State Department of Labor & Industries (L&I) announced last week that there will be no overall increase in workers’ compensation insurance premiums in 2013.

 

The agency noted that individual employers may still see their rates go up or down, depending on recent claims history and changes in the frequency and cost of claims in their industry.

L&I Director Judy Schurke credited the lack of an overall rate increase to savings from reforms passed during the 2011 legislative session and other factors projected to hold down costs next year.

One of the 2011 reforms, a new statewide provider network scheduled to launch in January, will help L&I continue holding growth in medical costs below 4 percent, said Schurke.

“We are very excited about the new network because injured workers will get the best possible care from network providers, who will meet standards similar to those required by other large health insurers,” she added.

L&I’s rate decision means an additional $82 million will be placed in the state fund reserves by the end of 2013.
More information about 2013 workers’ comp rates is available at their website.