Higher Minimum Wages Will Mean Slightly Higher Premiums, NCCI Says

A higher minimum wage in states across the country will put upward pressure on workers' compensation premiums for employers, and higher indemnity costs for insurers. But not by much. That's the conclusion of a white paper released this week by the National Council on Compensation Insurance.  "On a statewide level and even for the job classes with the highest shares of minimum wage workers, the impacts on WC would be minimal," because of the relatively low numbers of minimum wage workers, according to the paper written by NCCI's John Deacon. About 2% of U.S. ...