Worker’s Compensation Rates to Decrease in Idaho for 2021
Boise, ID (WorkersCompensation.com) - A proposal for a minus (-) 1.7 percent overall rate change to Idaho workers'compensation insurance, effective January 1, 2021, has been approved by the Idaho Department of Insurance. The proposed rate change is recommended by the National Council on Compensation Insurance (NCCI).
“The Department is pleased to announce this reduction, which will benefit Idaho businesses, their employees and the economy in general,” said Director Dean Cameron. “The decrease in the 2021 workers' compensation rates reflects continued improvement in our state's projected claims costs.”
The workers' compensation benefit system is designed to cover medical costs associated with workplace injuries. It also provides wage replacement benefits to injured workers for lost work time. NCCI annually collects information about the workers' compensation system and submits proposed rates to the Department of Insurance for review and approval.
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