Massachusetts Businesses Get Break In Workers Compensations Costs

Tony CanataIndustry NewsLeave a Comment

The Massachusetts Department of Industrial Accidents (DIA) lowered the assessment rate that private employers are expected to pay to the state on workers’ compensation policies. For the new fiscal year, the policy premium is now 5.75 percent down from 5.8 percent during the last fiscal year.

Massachusetts Businesses Get Break In Workers Compensations Costs

This new premium rate is effective for the 2016 fiscal year beginning on July 1, according to a letter circulated on July 2 by the Massachusetts Workers’ Compensation Rating and Inspection Bureau (WCRIBMA).

According to the Insurance Journal News report, Massachusetts governor, Charlie Baker, announced that his administration was focused on this rebate so that companies can enjoy a bit of tax relief. However, the assessment rates for self-insured employers will remain at 5.31 percent of the policy premium, while those who are not currently participating in the state’s injury fund will now be assessed at 1.66 percent, down from 1.7% during the preceding fiscal year.

Now while this may be good news for private employers, how does this decision affect the workers themselves? Well it would seem there’s a bit of happy tidings for some of them, too. Disability and senior care workers just got a major pay raise following the Supreme Court’s ruling, upholding the Affordable Care Act and its insurance exchange rules.

With this, about 35,000 workers now earn a new hourly wage of $15, and they are calling it a sweet victory. It can be recalled that a few months back, the home care workers union agitated for a wage increase which became popularly known as the Fight for 15. Perhaps this would serve as a wakeup call for employers who insist on shortchanging their employees, either in compensation or disability claims.

Although, long term disability benefits are governed by the Employee Retirement Income Security Act (ERISA), employers also play a role in the claims of their workers. After all, they probably wouldn’t have those benefits in the first place if they didn’t work for that said employer.

That being said, there are reputable law firms in Northampton, MA, and the surrounding areas, like Low & Canata, who are dedicated in helping  to ensure workers get their fair deal in any competent and reasonable workers compensation system. If you are being denied your legitimate claims, you may want to give them a call. They can help you secure your rightful benefits so you can enjoy your retirement in peace.

 

Source:

Mass. Dept. of Industrial Accidents Assessment Rate Lowered to 5.75%. Insurance Journal July 6, 2015

Mass. businesses get break on worker-comp costs. Sentinel Enterprise News July 5, 2015

Shouldn’t Home Care Workers Earn a Living Wage? The Nation June 29, 2015

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