Thursday, 13 August 2015
Massachusetts Businesses Get Break In Workers Compensations Costs
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. 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.