Pennsylvania Workers’ Comp Costs Drop For Fourth Consecutive Year

Most Pennsylvania businesses will see a drop in their workers’ compensation insurance rates starting April 1. Workers’ compensation insurance covers the cost of medical care and rehabilitation for injured workers, lost wages and death benefits for the dependents of those killed in work-related accidents. Workers’ compensation insurance rates will drop 5.99 percent, reducing a key expense for many companies and saving businesses in the state about $140 million this year.The reduction comes following the state Insurance Department’s approval of the Pennsylvania Compensation Rating Bureau’s annual loss cost filing, which is used to determine premiums.