A Comparison of Worker's Compensation Premium Rates

Wisconsin recognizes that low worker's compensation insurance premiums are a factor in attracting industry to the state and encouraging expansion. Effective 10/1/2004, WC rates were further reduced by an average of 4.15 %, producing additional annual savings for employers.

Over the past 11 years Wisconsin’s Worker’s Compensation Premium Rates have declined by 33%, resulting in over $1 billion in savings. A study conducted in late 1996 by the State of Oregon ranked Wisconsin’s Worker’s Compensation Premium Rates as the sixth lowest in the nation. Within the four-state area of Wisconsin, Michigan, Minnesota, and Illinois, Wisconsin's rates are very competitive. In many cases, a Wisconsin location represents significant savings on worker's compensation premiums while buying more value.

Worker's compensation insurance rates in Wisconsin, Michigan, Minnesota, and Illinois are shown by industry in the PDF version of this article.  Compare for yourself.

Wisconsin Worker's Compensation Insurance Saves You Money

• Wisconsin's good industrial record and heritage as a pioneer in the development of worker's compensation programs make this possible. Our program is comprehensive and well
  administered.
• As a result, we experience a low level of litigation in comparison to other states. Fewer contested cases also mean that a significantly higher portion of the insurance premiums is paid out in direct benefits to an employee, rather than expended in litigation costs.
• The test of a good compensation law is prompt delivery of maximum benefits to the injured worker with a minimum of waste and with
  benefits in proportion to the cost to industry. No state comes near Wisconsin in meeting this model program standard.
• Worker's compensation insurance coverage is compulsory for Wisconsin employers.
• Qualified employers, usually large firms with a big risk factor and adequate financial and administrative resources, may participate in a self-insurance program.

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