L&I Plans Meetings to Discuss Premium Rates

Monday, June 25, 2018 | 0

The Washington Department of Labor and Industries announced that two advisory committees will discuss possible changes to premium rates later this year, and the department will hold formal rule-making hearings  in October and November to discuss 2019 rate proposals.

The department said in a Tuesday statement of inquiry that it is required by law to establish and maintain a workers’ compensation classification plan and to set premiums at the lowest amount needed to maintain actuarial solvency, and limit year-to-year fluctuations in rates.

Premium rates for each classification are developed in part from the loss experience of employers, changes in benefit levels mandated by law or court cases, medical inflation, business trends and financial markets. The department said it also works with the Workers’ Compensation Advisory Committee and Retrospective Rating Advisory Committee as changes are being developed.

The public can attend advisory committee meetings to participate in the rule-making process. The Workers’ Compensation Advisory Committee and Retro Advisory Committee meeting dates are available online.

Agendas for the advisory committee meetings are not available, and the department did not say which meetings will include discussion or opportunities for the public to participate in deliberations on 2019 premiums.

The preproposal statement of inquiry is here.