On August 11, 2016, the National Council on Compensation Insurance recommended to the Iowa Insurance Commissioner that workers compensation rates in Iowa be reduced by 4.7%. See full article This is due to a decline in the number of lost-time claims and a decrease in the severity of work injuries relative to wages.
What does this mean to Iowans?
This means that overall Iowans are some of the hardest working people around. If they are unfortunate enough to sustain a work injury, they want to get better and get back to work as soon as they can. While there may be workers' compensation fraud in other states, in Iowa only a small percentage of injured workers try to take advantage of the system. So if you or a loved one work in Iowa, congratulations because chances are high that you are a hard worker.If you are an employer in Iowa, then be thankful that Iowa workers are some of the best in the world and because of it you will be saving money next year on your workers' compensation premiums.