Next year, Oregon Businesses will Experience the 7th Consecutive Year of Decreasing Rates
Beginning the Oregon businesses will be enjoying an average rate cut of 8.4 percent. This is in addition to a decline of 9.7 percent for Oregon Workers Compensation Rates in 2019. The decline over the past 7 years has added to an overal decline of 45 percent from 2013 to 2020. With these new rates, businesses will pay $1.02 per $100 of payroll. This amount is down from $1.11 in 2019.
2020 Workers Compensation Rates in Oregon are some of the lowest in the country. According to a 2018 study by the Oregon Department of Consumer and Business Services (DCBS), the average amount businesses in Oregon pay for Workers Compensation Premium is ranked 46 out of 50 states. Cameron Smith, the Director of The DCBS said, “The steady decline in workers’ compensation costs is about more than just the numbers. It demonstrates the hard work of employers, workers, insurers, and government to maintain essential worker protection programs and robust benefits for injured workers while keeping business costs low.”
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