Baker lowers workers’ comp. insurance assessment

BOSTON – Gov. Charlie D. Baker announced his administration will reduce the assessment employers pay to the state on workers’ compensation insurance policies by .05 percent in an attempt to offer companies tax relief.

For fiscal 2016, employers will pay an assessment on their total insurance premium of 5.75 percent, which is remitted to the state. The previous rate was 5.8 percent. The new rate went into effect July 1.

“After reviewing the current assessment rate and the economic outlook for next year, we recommended lowering the rate. This will further support businesses, and anything we can do to support businesses and spur job growth is a very good thing,” Labor and Workforce Development Secretary Ronald Walker said in a statement.

The Mass. Department of Industrial Accidents administers the workers’ compensation insurance system, and annually establishes assessment rates.

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According to a news release, the department oversees and adjudicates approximately 12,000 disputed cases each year.

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