State Auditor Matt Rosendale has approved a nearly 8 percent reduction in Montana's workers compensation costs. The decrease takes effect this summer.
Rosendale says Montana's work comp rates have decreased ever since the 2011 legislative session:
"At that time we had nearly the highest workers compensation rate in the nation."
The 2011 legislature took several steps to reduce those rates including implementation of job safety education and awareness programs.
"Which contributed dramatically to the rate reductions that folks have been able to experience," Rosendale says.
Montana’s 7.8 percent overall average decrease in work comp loss costs was filed last month by the National Council on Compensation insurance.
It takes effect July 1 and will be used by private workers comp insurers and the Montana State Fund in establishing its premium rates.
State Auditor Rosendale says the lower rates will result in decreased business costs in Montana and better chances of job creation.