Most things in the Florida workers’ compensation system are not good for the injured worker, but two changes set to occur in 2020 are good for the injured worker and employer.
First, workers compensation rates are being reduced by an average of 7.5 percent effective January 1, 2020. The insurance carriers initially requested a 5.4 percent reduction, but Florida Insurance Commissioner David Altmaier rejected their proposal and issued an order directing the National Council on Compensation Insurance to submit a revised rate proposal to his office with a 7.5 percent cut. “I am pleased to issue this order, reducing workers’ compensation rates for Florida’s businesses, providing another year of rate relief. Increased innovation in workplace practices and continued emphasis on safety for employees has meant a decline in the workers’ compensation claims and Florida businesses will see the results of those efforts reflected in their insurance rates,” said Insurance Commissioner David Altmaier in a recent press release.
Secondly, the maximum compensation rate in workers compensation claims is increasing. According to Florida law, the maximum weekly compensation rate for work-related injuries and illnesses shall be equal to 100 percent of the Statewide average weekly wage, rounded to the nearest dollar. As a result, the maximum compensation rate in 2020 is $971 which is an increase from the 2019 maximum comp rate of $939. The compensation rate impacts how much an injured worker receives if their doctor keeps them out of work because of a workers compensation claim.
Stay tuned to additional news about Florida workers’ compensation law and the revealing of my new book on Florida work comp benefits.
Attorneys Matthew Noyes and Lorrie Robinson help workers who are injured in a Tampa Bay work-related accident. As the oldest personal injury law firm in Tampa Bay, we know how to best serve the injured worker. If you have questions after a work related accident, call Personal Injury Attorney Matthew Noyes at 727-796-8282 or simply click here to schedule a free case consultation.