BWC proposes 13 percent rate cut in premiums for private employers
The Bureau of Workers’ Compensation (BWC) recently proposed a 13 percent rate cut in premiums, totaling nearly $132 million, for private employers beginning July 1, 2020. The BWC’s board is expected to approve the cut at a meeting on February 28, 2020.
For reference, the BWC cut private employers’ rates last year by 20 percent. The BWC also cut rates for public employers by 10 percent, effective January 1, 2020.
BWC premiums for both private and public employers are at their lowest in 40 years. The benefit to an individual employer depends on several factors, including recent claims history, participation in BWC safety programs and the industry in which the employer operates.Download PDF