Division Again Cuts Assessment Fee

Thursday, June 21, 2018 | 0

The Rhode Island Division of Workers' Compensation has proposed another reduction in the assessment fee that goes to run the division, the agency announced this week.

The fee would drop, from 5.75% to 5.25%, and would mark the fourth straight year that the division has cut the fee. In 2015, the rate was 6.5%.

Based on last year's numbers, the decrease is expected to save insurers and self-insured employers more than $1 million.

Workers’ comp premiums are based on a company’s payroll. With the growth of the economy and more Rhode Islanders working, the premium base has grown over the past year, facilitating the rate reduction, the agency has said.

Comments on the proposed fee reduction can be submitted to Matthew Carey at Matt.Carey@dlt.ri.gov, until July 2. A hearing will be held if 25 or more people request it.