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September 22, 2011
Against the recommendations of Washington business groups, L&I is requesting a 2.5% rate increase effective January 1, 2012 in order to increase their contingence reserve.
Below is a copy of the release published by L&I:
TUMWATER – The Department of Labor & Industries has proposed a 2.5 average workers’ compensation rate increase in 2012 – its lowest rate increase in five years. L&I said the proposed increase is a small step toward rebuilding the workers’ compensation reserves without harming the state economic recovery, something the State Auditor and many businesses and workers have said needed to be done. Without the recent reforms, a 10-14 percent rate increase would have been needed to cover costs and begin restoring the reserves. The public is invited to comment on the proposed rate increase at one of six public hearings around the state in October. The final rate decision will be announced in early December. Complete information is online at www dot rates dot wa dot gov.
For the full release visit – The Labor and Industries Website