L&I Proposes 4.9% Rate Increase for 2024

The Washington State Department of Labor and Industries on Tuesday proposed a 4.9% increase in the average hourly rate employers and workers will pay for work comp coverage next year. If approved, the increase would mean employers and workers would, on average, pay an additional $65 per year for each full-time employee. L&I said the proposed increase is below what the agency expects to pay for 2024 claims. As a result, the department is proposing to tap into its contingency reserve to augment premiums. “With help from our reserves, we’re finding a balance between chargin...