DWS Workers’ Compensation Division proposes 12% rate decrease for 2025

CHEYENNE (WNE) — The Wyoming Department of Workforce Services Workers’ Compensation Division has proposed a significant reduction in workers’ compensation rates.

For 2025, rates will decrease by 12% compared to the 2024 industry base rates. Base rate changes at the class level will vary, but businesses may see up to a 25% decrease.

A contributing factor to the significant proposed rate reduction is the result of a bill recommended by DWS and passed by the 67th Wyoming Legislature. The bill allows DWS to consider the investment earnings on the contingency reserve when setting annual rates, resulting in a significant overall rate decrease for 2025.

The 2025 base rate decrease is in addition to the 6% decrease in 2024, nearly a 20% decrease over the two years. Once approved, the proposed changes will take effect starting in January. The 2025 proposed class rates are listed on the department’s website at dws. wyo.gov/baserates.

“This proposed decrease highlights our dedication to fostering the economic sustainability of Wyoming’s employers and business owners’ commitment to a safe and healthy workplace,” said DWS Deputy Director Jason Wolfe in a news release.

Public input is encouraged, and written comments regarding the proposed rate changes should be submitted to the Workers’ Compensation Division, Employer Services Section, Attn: Workers’ Compensation Industry Base Rate Hearing, 5221 Yellowstone Road, Cheyenne, WY 82002. To be included in the record of the rate-setting proceedings, comments must be received by Oct. 14.

The full public notice is viewable at dws. wyo.gov/publicnotice.

This story was published on September 5, 2024.