Workers Comp rates drop 8.47%

Starting Oct. 1, Wisconsin companies will pay 8.47 percent less in worker's compensation insurance rates giving a boost to businesses around the state. This marks the 7th year in a row Insurance rates covering on-the-job injuries have gone down.

The lower rates reflect continued worker safety improvements by employers in Wisconsin, which has a record number of people working and a May unemployment rate of just 2.9 percent.

The latest reduction in premiums is expected to save Wisconsin employers some $146 million. 

The workers' compensation program covers medical expenses and lost wages for employees injured on the job. Data from the independent, nonprofit Workers Compensation Research Institute ranks Wisconsin among the lowest of 18 states in the time employees spend away from work after an injury, thanks to strong health care networks and return-to-work programs that support a smooth transition back to the workplace.

"This latest decrease in worker's compensation rates represents more good news for the safety of Wisconsin’s workforce heading into 2023," said Insurance Commissioner Nathan Houdek. "Improved workplace safety practices have helped reduce worker’s comp rates, provide a competitive advantage for employers doing business in Wisconsin, and support a more productive workforce."

We know Wisconsin’s Worker's Compensation Advisory Council has layed and continues to play a strong role in the success of Wisconsin’s success. The members of Worker’s Comp Works in Wisconsin and proud to support the council and its representatives from management and labor. This bipartisian council is the platform for compromise that has made Wisconsin famous. If you’d like more information about our coalition and how to get involved contact us today!