If you own home health care agencies in NY State the loss cost assigned by the NY Workers Compensation Rating Board governing the predominate labor class codes for Home Health Care Agencies have decreased by approximately 43% since 2017 for class code 
9051,(Home Health Care Non_Professional Employees).
The loss costs rates are released in July each year effective for workers compensation policies that renew after October 1st. Insurance Carriers doing business in NY State can choose to deviate off these published loss costs. They can with either credits or debits to arrive at the workers’ compensation premiums.
At Metropolitan Risk we study which carriers have the best workers compensation rates for Home Health Care Agencies. Contingent on where your agency is located, how big your footprint is and what your current loss history is as denoted by your workers’ compensation experience modification factor you might be able to substantially lower your workers’ compensation insurance premiums.
“Just because the published loss costs are “x” this doesn’t necessarily translate directly to the rates you are paying “
Brandon Mueller, Risk Advisor, Metropolitan Risk
Naturally, you can try and figure all this out yourself. Or, you could give us a quick call and cut right to the chase.
Schedule a quick 5-minute call to evaluate your current situation before you automatically renew the workers’ compensation insurance policy. Reserve Your Consultation by BOOKING TODAY
Photo by Clark Young on Unsplash
Photo by Christopher Gower on Unsplash