Wyoming proposes 12% comp rate cut as result of new law

The Wyoming Department of Workforce Services proposed a 12% reduction in workers compensation base rates for 2025.

The department said the rate cut is possible in part because of H.B. 72, passed earlier this year, which allows it to count investment earnings from a contingency account as income. Before the change, the department could consider investment income only on loss reserves.

The department said the 6.5% reduction approved for 2024 would have been an 18% decrease if the law had been enacted earlier. Base rate changes at the class level for 2025 will vary, but businesses could see a decrease of up to 25%, the department said.

Wyoming is one of four monopolistic states where employers purchase work comp coverage through the state and not from private insurers.

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