Wisconsin’s Department of Workforce Development (DWD) announced last week that Wisconsin employers will see a 6.03% reduction in worker’s compensation premium rates starting October 1, 2018, after dropping by 8.46% in 2017. Worker’s compensation premium rates remain lower in 2018 than they were over a decade ago, with a net annual average change of - 0.88%. Since 2011, the net average annual change has been - 2.04%.
According to announcements from DWD over the last two years, rate reductions in 2017 and 2018 have amounted to $304 million in savings to Wisconsin employers. In 2016, worker’s compensation premium rates also dropped by 3.19%. WHA, along with a large coalition of health care providers, encouraged the Legislature again in 2017 to reject a proposed medical fee schedule putting government in the position of determining reimbursement rates for medical providers who treat injured workers. Lawmakers, again, flatly rejected this proposal in the most recent legislative session.
For more information about this recent worker’s compensation premium rate decrease, contact WHA Vice President, Public Policy Lisa Ellinger.