According to the Workers’ Compensation Insurance Rating Bureau, the
overall cost of workers' comp to California employers has dropped
since 2012. The finding also comes with the data that suggests, despite
the decline, that cash benefits for injured claimants has improved.
Sacramento Bee reports, the fall in employer costs is likely due to 2012 legislation aimed at
this precise effect. Since the 2000s, California's worker's compensation
costs have been some of the highest in the country. Two rounds of legislation
have been enacted since that time-- the latest as the 2012 deal between
employers and unions to increase benefits while keeping medical costs down.
The Workers’ Compensation Insurance Rating Bureau now reports that
the average employer insurance premium is about $2.86 per $100 of payroll.
In 2003, when Governor Schwarzenegger had to urge legislation to take
action, the average cost was a whopping $6 per $100 of payroll.
Still Progress to be Made
While the legislative shifts have made progress in reducing employer workers'
comp costs, there is still work to be done. The Oregon Department of Consumer
and Business Services estimates that California's costs are still
the highest in the nation. In fact, in a 2014 survey, California's
worker's comp costs were roughly twice the national average.
The Workers’ Compensation Insurance Rating Bureau has recommended
a “pure premium rate” of roughly $2.30 per $100 of payroll
effective July 1, which is more than 10% lower than the average premium
rate of insurers so far in 2016. The hope is that the recommendation will
be heeded and costs will continue to fall—and eventually give employers
less reason to be adversarial when a legitimate workers' comp claim
is made by one of their employees.
Have you been injured at work and need to file a worker's compensation
claim? If so, it is highly advised that you do so with the counsel of
an experienced Glendale workers' compensation attorney. At the
Law Offices of Wax & Wax, we have helped countless clients secure the workers' comp benefits
they deserve, even when they have faced resistance from employers, insurance
red tape, and other challenges inherent to this process.
Do not face your workers' comp claim without the advocacy you deserve.
Contact us today to start exploring your options.