Montana is now No.1, but in a category that many people are not hurrying to get into. Woah, Florida, New York, California and all the notoriously "bad" work comp states will be jealous!
The state now has the highest workers compensation premiums in the country, according to a national study released from the Oregon Department of Consumer & Business services.
In light of that report, the Montana Chamber of Commerce issued the following comments
“Montana is a great place to run a business, but being No 1 in workers compensation costs is a big black eye for the state,” Webb Brown, president/CEO of the chamber, said (WCxKit)
In the last decade, the Oregon study has shown Montana moving up in the rankings.
In 2000, Montana had the 12th highest premiums, 10th highest in 2002, eighth highest in 2004, fifth highest in 2006, and the second highest in 2008.
This year, Montana surpassed Alaska to take the top spot. The report shows Montana’s neighbors have some of the cheapest work comp premiums in the country: Idaho – 29th; South Dakota – 28th; Wyoming – 37th; North Dakota – 51st.
"Big problems require big solutions. We know the Legislature will primarily be concerned with balancing the state budget, but workers compensation reform must also be dealt with this session," added Brown. (WCxKit)
The state Legislature plans on tackling workers comp in the upcoming session with a plan that some hope will reduce costs by $150 million.
Author Rebecca Shafer, JD, President of Amaxx Risks Solutions, Inc. is a national expert in the field of workers compensation. She is a writer, speaker and website publisher. Her expertise is working with employers to reduce workers compensation costs, and her clients include airlines, healthcare, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. Contact: RShafer@ReduceYourWorkersComp.com
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Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers comp issues.
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