State says PA workers' compensation rates drop
The Associated Press | 03.29.13
(Harrisburg) -- The state Insurance Department says a workers' compensation insurance rate reduction will go into effect next week for employers.
The department said that the overall four percent decrease that takes effect Monday could mean as much as $110 million in savings for Pennsylvania employers.
It says the estimate may vary according to claims experience, payroll and other factors, and not all employers will see a decrease.
Workers' compensation insurance provides for the cost of medical care and rehabilitation for injured workers, and lost wages and death benefits for the dependents of people who are killed in work-related accidents.
The department says employers should contact their insurance agent before their next renewal date to find out how their premium will change.
- Explore more stories about healthcare policy in PA
- Learn more about the Affordable Care Act and healthcare reform
- Starting in 2014 under the law, companies with 50 or more full-time employees must provide health insurance, or they'll be subject to a penalty of two-thousand dollars a worker, minus the first 30 employees. witf's Megan Lello takes a look at how a couple of midstate businesses are coping with the changes. LISTEN