Skip to main content
Mass Consumer Affairs Blog 
OCABR logo
Blog Post

Blog Post  Workers’ Compensation Rate Decrease Is Good for Massachusetts’ Businesses

For the fifth consecutive time, Massachusetts businesses will benefit from a decrease in workers’ compensation rates.
7/08/2024
  • Division of Insurance
Dark blue graphic with "Workers' Compensation" white text in the center surrounded by small illustrations of workplace injuries.

The Workers’ Compensation rate is used by insurers to determine how much employers must pay for insurance to help cover medical costs and lost wages that result from work-related injuries. With a few exceptions, if you operate a business in Massachusetts, you must purchase workers’ compensation insurance to provide for employee-related expenses, for those injured while on the job.

For the fifth consecutive time, Massachusetts businesses will benefit from a decrease in workers’ compensation rates. Effective July 1, 2024, the rate decreased by 14.6 percent, the result of a rate hearing between the Division of Insurance’s State Rating Bureau (SRB), the Workers’ Compensation Rating and Inspection Bureau (WCRIB), and the Office of the Attorney General, pursuant to Massachusetts General Laws, Chapter 152, §53A. This final rate decrease is much lower than WCRIB’s request for a 7.6 percent rate reduction.

This reduction is significant, resulting in savings of approximately $181 million annually in Massachusetts workers’ compensation premiums compared to rates currently in effect -- and saving Massachusetts employers an estimated $87 million. If you are an employer, you should see the rate change when you renew your policy.

“The outcome of this hearing has a significant positive impact for Massachusetts businesses,” said Acting Insurance Commissioner Kevin Beagan. “The Division’s State Rating Bureau worked hard to demonstrate that workers’ compensation rates could be reduced further, and we are pleased that we can deliver good news for employers struggling with increasing costs.” 

The rate reduction builds on positive trends in workers’ compensation insurance over the last few years and demonstrates that the Massachusetts workers’ compensation insurance industry continues to implement effective cost containment programs.

WCRIB is required to make its next annual filing impacting rates effective July 1, 2025.

Questions about Workers’ Compensation? Read the Division of Insurance’s Workers’ Compensation FAQ for Employers available online.

  • Division of Insurance 

    The primary mission of the Division of Insurance (DOI) is to monitor the solvency of its licensees in order to promote a healthy, responsive and willing marketplace for consumers who purchase insurance products. Protection of consumer interests is of prime importance to the Division and is safeguarded by providing accurate and unbiased information so consumers may make informed decisions and by intervening on behalf of consumers who believe they have been victimized by unfair business practices.

    • Help Us Improve Mass.gov  with your feedback

    Please do not include personal or contact information.
    Feedback