Oregon employers will pay on average less for workers’ compensation coverage in 2025.
The Oregon Department of Consumer and Business Services the decline in workers’ comp rate, which marks 12 years of average decreases in the pure premium rate.
Employers would on average pay 91 cents per $100 of payroll for workers’ comp next year, down from 93 cents in 2024, under the proposal by DCBS. The pure premium rate would drop by an average 3.2% under the proposal.
The reduction in costs is due to an improvement in loss experience in Oregon, according to the National Council on Compensation Insurance.
Employers’ total cost for workers’ comp insurance includes the pure premium and insurer profit and expenses, plus the premium assessment. Employers also pay at least half of the Workers’ Benefit Fund assessment, which is a cents-per-hour-worked rate.
The premium assessment, which is a percentage of the workers’ comp premium employers pay, is added to the premium. It would remain at 9.8% in 2025, the same as 2024, under the DCBS proposal.
The decrease in the pure premium will be effective Jan. 1, 2025, but employers will see the changes when they renew their policies in 2025.
Topics Workers' Compensation Oregon
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