Thursday, August 7, 2008

Workers’ Comp Rates in Massachusetts Could Drop in September

Employers in Massachusetts, who were facing a 2.3 percent increase in their workers’ compensation insurance premiums, will actually be getting a price break in the fall. As in most states, employers in Massachusetts are required to carry workers’ compensation insurance to provide medical care, coverage for lost wages and other benefits for workers who are injured on the job.

An insurance industry trade group had requested a rate hike, but the state’s attorney general intervened. If the state’s insurance commissioner approves the new rate, Massachusetts businesses will pay 1 percent less for workers’ compensation insurance in September. That’s a $30 million savings across the board.

No comments: