Salem, OR – The Department of Consumer and Business Services recently announced an 8.4 percent average reduction in pure premium rates for employers in 2020.
2020 Workers’ Compensation Premium Assessment Rates
Each year, the Department of Consumer and Business Services adopts by rule the workers’ compensation premium assessment rate that is paid by all employers to fund workers’ compensation and workplace safety and health programs. In the “Permanent Administrative Order,” filed with the Secretary of State on Oct. 1, 2019, the department explained that the 2020 premium assessment rate will go into effect on Jan. 1, 2020.
Based on economic forecasts, department analysts recommended a premium assessment rate of 8.4 percent. The proposed increase from 7.8 percent to 8.4 percent will allow the department to maintain current service levels throughout 2020. Please refer to Exhibit 1 (PDF).
Additional assessments to fund the Self-Insured Employer Adjustment Reserve and Self-Insured Employer Group Adjustment Reserve are expected to decline by 50 percent from 2019 levels. Please refer to Exhibit 2 (PDF).
For more information regarding the rulemaking hearing held on Sept. 19, 2019, or to view the Permanent Administrative Order for Calendar Year 2020, refer to the link above.
Source: OR DCBS