Pa. Sees Workers' Comp Cost Decrease

Pennsylvania Gov. Edward Rendell announced a 10.22 percent overall decrease in workers’ compensation costs that will reportedly result in $250 million in savings for Pennsylvania employers. Currently, there are over 7,500 businesses enrolled in the Department of Labor & Industry’s Certified Workplace Safety Committee program with committees covering more than 1 million workers. Businesses with state-certified workplace safety committees receive a five percent discount on their workers’ comp premiums, in addition to the average 10.22 percent decrease announced. The reduced workers’ comp insurance costs will reportedly save the state’s employers approximately $250 million on future premiums. This is the fourth time Pennsylvania has reduced workers’ comp costs since Gov. Rendell took office. With this most recent decrease, employers will have realized more than $750 million in savings in six years. The overall 10.22 percent loss cost decrease announced is an average. Costs and savings will vary by type of business, as well as specific claims history. Some employers will see savings, others may not.