A rate change affecting most of Florida’s Workers’ Compensation Classification Codes became effective on June 1, 2018.
- This decrease is a result of the federal tax overhaul that was approved in December.
- While the rate change for each code will differ, the average rate decrease for all classes is 1.8%.
- Your rates will change on your Anniversary Rating Date (usually coinciding with your Workers’ Compensation Policy Effective Date), rather than being effective for you on 6/1/18.
- State Chief Financial Officer Jimmy Patronis estimated this reduction could save businesses as much as $79.50 million this year.
- Locate your Classification Codes in the linked attachment to see how your rates were affected.We hope you find this information helpful. If we can be of service to you, please do not hesitate to contact us.
