The Bureau of Workers’ Compensation (BWC) Board of Directors is contemplating another premium reduction for schools and local governments. The move follows earlier rate cuts made by the board over the past four years.
During a presentation to a board committee, the BWC recommended reducing the next policy year’s public employer taxing districts rate anywhere between 4.4 percent and 11.2 percent, with a baseline recommendation of a 7.8 percent cut. Last year the BWC approved a 9.1 percent reduction in public employer base rates. That followed a 1.6 percent cut in 2014, a 5 percent decrease in 2013, and another 5 percent cut in 2012.
The BWC is considering another rate cut because the frequency of public employers’ workers’ compensation trends has been decreasing since 2000.
The official vote regarding this potential rate cut for public employers will occur during the next meeting in August. The new rate would then take effect July 2016.