The Wisconsin Compensation Rating Bureau announced
this week that Wisconsin employers will enjoy a dramatic overall reduction in worker’s compensation rates for the eighth consecutive year. On par with the 8.47% decrease last year, the overall rate will go down another 8.39% beginning Oct. 1, 2023. The reduced rates are expected to save Wisconsin employers more than $150 million next year.
In the Wisconsin Compensation Rating Bureau’s 2022 State of the State
, President Bernard Rosauer touted the rate reductions last year, writing, “The consecutive worker’s compensation rate decreases are remarkable and are partially driven by important factors in which Wisconsin excels compared to many other states. Wisconsin’s results are partially driven by superior return to work, low litigation rates, low benefit delivery expenses, and superior (injured) worker satisfaction.”
WHA President and CEO Eric Borgerding agreed, saying “The now eighth consecutive reduction in worker’s compensation rates is even more remarkable. Wisconsin’s health care providers’ care for injured workers is fundamental to injured workers returning to work as quickly as possible and, importantly, the superior worker satisfaction rates. Providers should be pleased that their good work remains a key part of Wisconsin’s stable worker’s compensation system.”
Borgerding continued, “Wisconsin, unfortunately, is one of 20 states with a workplace injury and illness rate above the national average for the most recent reported
year, adding to worker’s compensation costs. Reducing the number of workplace injuries in Wisconsin needs to be a critical focus for Wisconsin employers.”