HR Fast Facts: How does Washington State Calculate Rates for Workers’ Compensation Claims?
n Washington State, a company’s Worker’s Compensation Composite rate (also known as the Premium or Hourly Rate) calculated using four separate base rates assigned to the company based on their risk class.
In Washington State, a company’s Worker’s Compensation Composite rate (also known as the Premium or Hourly Rate) calculated using four separate base rates assigned to the company based on their risk class.
These base rates correspond to one of the four different state funds that pay for workers’ compensation claims, and represent the estimate cost of insuring a company in that risk class.
