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Pennsylvania Employers Could See Decrease in Workers’ Comp Rates

The Pennsylvania Department of Insurance announced some good news this week for PA employers: a reduction in the workers’ compensation rate.

According to a press release from the Department of Insurance, an overall decrease of 4.01 percent goes into effect April 1. The cut could result in a projected overall premium reduction of up to $110 million for Pennsylvania employers. This is based on employer risk classifications and could vary according to payroll, claims experience, as well as other factors, so no all employers will see a decrease.

But Insurance Commissioner Mike Consedine said, “We are very pleased with the rate reduction which is the second workers’ compensation decrease in a row. The lower rate will benefit Pennsylvania employers with ongoing cost savings.”

Workers’ comp provides for the cost of medical care and rehabilitation for workers who are injured on the job, as well as lost wages and death benefits for dependents of employees killed in work-related accidents.