Workers’ Compensation Rates to Drop in Maine | WCI360 – Workers’ Compensation Institute.
Though Maine may not be one of the bigger Co-Employer states, Employers in Maine are expected to save $15.2 million on workers’ compensation insurance this coming year, thanks in part to a reduction in on-the-job injuries and the ability of the state workers’ comp board to control medical costs. Those states which can control injuries and medical cost will see rate decrease in lieu of rate increases. Most states are not seeing rate decreases. Employers can benefit for rate decreases when they can have a positive impact on several factors: lower the frequency of on-the-job injuries, the severity of those injuries and the amount of time injured employees are out of work.
In many states health care costs may be on an upward trend, the states which succeeded in controlling medical costs through a medical fee schedule, which determines how much health care providers receive for their services, can also have a positive impact on reducing rates. Safety is also a big issue and people are taking it seriously. PEO’s have the tools, experience and knowledge to manage and control, frequency, severity and lost time injuries.
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