Average Price of Washington Workers’ Comp Going up Slightly in 2022
The Washington Department of Labor & Industries announced a 3.1% increase in the average worker’s compensation premium rate for hours worked in 2022.
“A modest hike is needed because of the rising costs to provide workers’ compensation coverage. It’s the first rate increase in five years,” L&I Director Joel Sacks said in a statement. “We’re using our contingency reserve to limit the increase for employers and workers next year, keeping premiums, on average, lower than they were in 2017.”
With the rate increase, the average rate per $100 of payroll in 2022 will be $1.53, a 1.4% increase over 2021.
Individual employers may see their rates go up or down, depending on their recent claims history and changes in the frequency and cost of claims in their industry risk classes. Workers will continue to pay on average about a quarter of the premium, a similar percentage to that paid in 2021.
Public hearings for the proposed 2022 rates were held virtually in October
L&I workers’ comp insurance covers roughly 2.6 million workers and about 187,000 employers in Washington.
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