MSF Lowers Workers’ Compensation Rates
Montana State Fund, the state’s largest workers’ compensation insurance company, has announced a 3 percent average rate reduction for its policyholders.
The decision came at the March 11 meeting of the MSF board of directors and is effective for new and renewal policies on or after July 1.
This reduction marks the 16th consecutive year MSF rates have remained flat or been reduced. With a 3 percent rate reduction, MSF’s rates are now 54.1 percent lower than in 2006 (the year of the last rate increase).
In the midst of rising inflation and economic uncertainty, this is positive news for Montana employers.
“As a board, we are committed to providing Montana employers with stability and predictability. We have a big impact on Montana businesses, and a responsibility to them. We hope this rate decrease allows employers to hire more workers, make improvements, and ultimately better the Montana economy,” said MSF board chair Richard Miltenberger.
The financial stability of MSF is a positive force in the Montana economy because often, next to their payroll, workers’ compensation insurance is the highest expense on an employer’s books. Stability and predictability are important for employers, especially small businesses which make up the backbone of the Montana economy. MSF insures approximately 19,000 small businesses.
ROOSEVELT COUNTY CONSERVATION DISTRICT PO BOX 517, CULBERTSON, MT 59218 rccd17@gmail.com
