West Virginia employers may be getting a little good news for next year, as the National Council on Compensation Insurance has filed a proposed workers’ compensation loss cost decrease of 13.5%, to begin Jan. 1.
The change, pitched by the state’s rating and statistical agent, would mean another possible $20 million kept in the coffers of Mountain State employers. In fact, it would mean 21 years in a row of decreases since the state workers’ comp program was privatized. That’s more than half a billion dollars in savings to employers compared with workers’ comp levels before the reform.
With such savings, West Virginia ranks third among states for workers’ comp premiums. Only two states are doing better.
Gov. Patrick Morrisey was right to point out “The projected savings on premiums for w