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Illinois workers’ compensation rates to be reduced

In the face of national data that declares Illinois the third worst state in the country for businesses, news that Illinois’ workers’ compensation rates will again decrease has been met with widespread support, Illinois Watchdog.org reported on August 4.

Illinois Governor Patrick Joseph Quinn III announced that the National Council on Compensation Insurance (NCCI) suggested a drop in workers’ compensation rates by 5.5 percent beginning next year. According to the Illinois Department of Insurance, this reduction could save employers as much as $143 million in premiums over the year.

The dropping workers’ compensation rate in Illinois has been a trend since 2011. Quinn said the millions of dollars in dividends will benefit both Illinois workers and businesses.

When workers are injured on the job, workers’ compensation is often the lifeline they need to cover the costs of medical expenses and lost wages. If you are in need of workers’ compensation in Champaign, the attorneys at Spiros Law, P.C., may help you pursue the funds you need. Call our offices today at (217) 328-2828 to learn more.