(Sept. 19, 2023) L&I proposes 4.9 percent increase in workers’ comp rates for 2024 – The Washington State Department of Labor & Industries announced today a proposal for a 4.9 percent increase in workers compensation rates for 2024. The increase for construction averages 3% with some risk classes decreasing and some rates increasing. Unlike other states, Washington’s rates are calculated by hours worked, as opposed to wages paid; so there is no built-in rate increase as wages rise and time-loss rates increase. L&I advises this structure is so that employers are not penalized with significantly higher insurance charges based on the wages they pay. The proposed rate increase is being offset by investment earnings and the contingency reserve or the increase would be higher.
Click here for the proposed rates by risk class.
The base rates are modified by each employer’s individual experience via their experience modification rate (EMR). AGC of Washington’s Group Retro staff will be sending out 2024 proposed EMRs to each AGCW Retro member and offering individualized on-line training with each company. If you are not a Retro member and would like EMR training, please contact AGCW’s Workers-Comp Retro Director, Lauren Gubbe.
As always, AGCW continues to advocate for fair and reasonable time-loss rates, no age limits on settlements, a clear definition of what constitutes an occupational disease, and that cost-of-living increases on time-loss and pension claims be changed from the state’s average wage to a more accurate and predictable inflation measure such as the CPI (consumer price index).