• Declining Workers’ Compensation Rates
  • December 8, 2017
  • As workplace safety measures continue to improve, fewer workers are claiming Workers’ Compensation for work-related injuries, illnesses, and accidents. The decline in cases will lead to a decrease in Workers’ Compensation insurance rates across the United States in 2018.

    Over the past few years, the decline in Workers’ Compensation claims has been steady. Last year, the National Council on Compensation Insurance (NCCI) discussed changes in Workers’ Compensation insurance rates, where a staggering number of states requested a decreased rate. Out of the 38 states where the NCCI is in charge of filing procedures, 36 saw a decline in Workers’ Compensation insurance rates.

    In total, 36 out of 38 states are proposing decreases in Workers’ Compensation rates in 2018. Although the number of states requesting a decline in rates remains the same, the percentage of decline is much larger than previous years. At least 13 states are showing rate-decrease filings in the double-digits. The few states that are proposing an increase in Workers’ Compensation insurance rates are suggesting very small changes of less than three percent.

    Reasons for Declining Rates
    Access to quality healthcare at reduced cost when compared to previous years, as well as a drastic change in workplace safety standards are responsible for the decline. In addition to increased safety precautions and employee training sessions, many hazardous jobs have been replaced with automated machines in favor of service jobs to prevent dangerous accidents and promote employee wellness.

    Due to recent reforms in the medical industry that have helped control costs while providing quality care, the Workers’ Compensation industry is providing better care for injured employees. As more and more states are experiencing fewer claims, they are turning to each other to implement better safety measures in the workplace.

    As changes in workplace safety and security continue to rise, the NCCI expects Workers’ Compensation insurance rates will continue to decline.

    The Effect on Workers
    Employees who work in hazardous environments or those who face injury as the result of an accident can continue to expect increased safety measures and precautions. If a workplace accident does occur, many workers can expect better healthcare as many states are enforcing controlled medical costs, faster recovery times, and a timely return to work.

    Philadelphia Workers’ Compensation Lawyers at the Law Offices of Jeffrey S. Gross Assist Injured Workers
    If you or someone you love has been injured on the job, contact a Philadelphia Workers’ Compensation lawyer at the Law Offices of Jeffrey S. Gross. Call 267-589-0090 or complete our online form to schedule an initial consultation. Our offices are located in Philadelphia, allowing us to serve Pennsylvania and New Jersey.