Workers compensation rates to decrease for 2017
BOISE — The Idaho Department of Insurance has received a proposal from the National Council on Compensation Insurance for an overall rate decrease of 1.2 percent to workers’ compensation insurance.
The change takes effect Jan. 1.
“The change in the 2017 workers compensation rates is a reflection of the stability of Idaho’s worker compensation system,” Department Director Dean Cameron said in a statement. “Frequency of claims for lost work time claims has remained consistent, and the average costs of those claims have declined. Medical cost per case has leveled off.”
The workers’ compensation benefit system is designed to cover medical costs associated with workplace injuries and provide wage replacement benefits to injured workers for lost work time. NCCI collects information about the workers’ compensation system in Idaho and submits proposed rates to the Department of Insurance for review and approval.
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