Idaho Compensation Insurance to Go Down
BOISE, Idaho (KLIX) The insurance rate for Idaho's worker compensation benefit system is set to go down.
The Idaho Department of Insurance announced that it received a proposal from the National Council on Compensation Insurance to reduce the rate for workers' compensation insurance of -1.2% at the first of the year.
“The change in the 2017 workers compensation rates is a reflection of the stability of Idaho’s worker compensation system,” says Department Director Dean Cameron. “Frequency of claims for lost work time claims has remained consistent, and the average costs of those claims have declined. Medical cost per case has leveled off.”
The insurance covers medical costs associated with workplace injuries, and provide wage replacement benefits to injured workers for lost work time.