Florida will decrease rates for 2025
If you are currently leasing your employees via a PEO, please take note that Workers’ comp rates in Florida will decrease an average of -1.0% in 2025 under a proposal made last week by NCCI, the body that recommends rates to the state. PEOs have struggled in recent years to keep up with the decreasing worker’s compensation rates and it has become increasingly important to have our team of professionals review your current plan to ensure your not over paying for worker’s compensation coverage.
Workers’ comp rates in Florida have gone down every year since 2018. If this rate decrease is approved, Florida rates in 2025 will be an average 78% lower than they were in 2003.
The next step is for OIR to hold a public hearing to consider the rate request and then issue an order setting the 2025 rates, which usually happens in early November in time for January renewals.
