The Average Worker's Compensation Costs By State, Ranked
While thousands of essential workers in the United States find themselves routinely putting their health at risk during the coronavirus pandemic, some are finding it difficult to access worker's compensation benefits, making it a good time to take a look at average workers' compensation insurance rates by state.
There are numerous factors regarding worker's compensation insurance throughout the country but a quintessential aspect in determining workers' comp rates comes down to which state an employer operates in.
The data-viz team at personal finance site HowMuch.net scoured through the numbers from the National Academy of Social Insurance (NASI) and produced this infographic which maps out the average worker's compensation rate by state from highest to lowest per every $100 in payroll.
Alaska has the heaviest burden in paying workers' compensation with approximately $2.27 per $100 of payroll going to the program. Conversely, Texas has the lowest costs for workers' comp at only $0.54, primarily because it's the only state in the country that allows employers to opt out of it.
[Read more at HowMuch]