Wisconsin Workers' Compensation Rates Decline

Date: July 19, 2022

The lower rates will save employers an estimated $146 million

For the seventh year in a row, the cost of workers’ compensation insurance will decline, according to the Department of Workforce Development.

The lower rates, effective Oct. 1, 2022, will save employers an estimated $146 million, although the overall impact will vary among employers and specific circumstances.

According to the Workers Compensation Research Institute, Wisconsin is one of eighteen states with the lowest time employees spend away from work following a workplace injury.

Workers’ compensation insurance rates are adjusted annually by the Wisconsin Compensation Rating Bureau and must be reviewed and approved by the state insurance commissioner.

“The latest decrease in workers’ compensation rates represents more good news for the safety of Wisconsin’s workplace heading into 2023,” Insurance Commissioner Nathan Houdek said. “Improved worker safety practices have helped reduce workers compensation rates, provide a competitive advantage for employers doing business in Wisconsin and support a productive workforce.”

Related Content: Small Business News | Wisconsin

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