Oregon Comp Prices Anticipated To Lower For The Ninth Consecutive Time – Enterprise Insurance
Oregon employers would see an average decrease in the cost of their employee compensation costs for the ninth consecutive year in 2022, the Oregon Department of Consumer and Business Services said on Wednesday.
The department said downward trends in the frequency of downtime claims, trends in the severity of claims and medical costs, various cost control programs, and improvements in occupational health and safety are among the reasons for the continued decline in average pure premium rates – proposed 5.8% in 2022 and a total of 51% since 2013.
According to a proposal, employers will pay an average of 97 cents per $ 100 of wages for employee compensation costs in 2022, compared to $ 1.02 in 2021. The proposal would lower the premium rate by an average of 5.8% .