BUSINESS: L&I proposes 2.7 percent rate increase
By Peninsula Daily News staff
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The proposed increase, which translates to an average hike of less than 2 cents for every hour worked, would be L&I's first in three years, the department said Monday.
Actual comp rate changes will vary based on an employer's industry and history of claims.
The department said an increase is needed to restore its workers' comp reserves after holding down rates during the recession.
About 160,000 employers — mostly, small and mid-sized businesses — get their workers' comp insurance through the state.
Employers pay about 75 percent of the premiums, with employees covering the remaining 25 percent.
Public hearings on the proposed rates will be held in cities across the state including 10 a.m. Oct. 22 at the Tukwila Community Center in Tukwila; 10 a.m. Oct. 23 in the Central Library Lecture Room in Bellingham; and 10 a.m. Oct. 28 in the L&I Auditorium in Tumwater.
Comments about the proposed rates can also be made in writing to Doug Stewart, Employer Services Program Manager, P. O. Box 44140, Olympia, 98504-4140, or email to Doug.Stewart@Lni.wa.gov.
Final rates will be adopted in early December and go into effect on Jan. 1.
More information is available at www.Rates.Lni.wa.gov.
Last modified: September 17. 2013 7:53AM