Workers Comp Premiums, Going Down

In great news for loggers and all employers, workers’ comp premiums will be reduced with the passage of HB 4628.    This Bill will terminate the nine percent (9%) surcharge on workers comp insurance premiums which are directed towards the Workers Compensation Old Fund Debt, which was created back in 2005 when the state’s workers comp system was privatized.   Now that the Old Fund debt is actuarily funded to pay all future claims, HB 4628 provides that this surcharge will be eliminated at year end (December 31, 2018).