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Workers' compensation costs drop in Florida

In 2019, there is a positive movement happening in Florida. Businesses are going to get a break on the cost of workers' compensation insurance.

In the past, some businesses have argued that insurance was far too expensive. Smaller businesses may have risked going without it, despite the fact that they could be heavily fined for not carrying it for their employees.

The good news is that reducing the cost for businesses should mean that more are opting to purchase this required insurance instead of taking the risk and potentially hurting their workers.

How much will businesses save in 2019?

In 2019, businesses will see a 13.8 percent decrease in rates. This is in addition to the 9.5 average rate reduction that took place in 2018.

Another good piece of news is that the drop is related to a lower number of claims being made. Governor Rick Scott approved the rates along with another positive for workers: a minimum wage increase.

As an employee, you want to know that your employer is taking your health seriously. Knowing that your employer can afford to keep workers' compensation is a step in the right direction, so you can confirm that you are covered and work without the stress of worrying that you could be injured and have nowhere to turn for compensation.

If your employer does not carry insurance, your attorney can help you file a claim against your employer and take steps to make sure they are forced to get it in the future. Your health is the most important factor in any workplace.

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