By Brian Fowler, WisMed Assure Account Director
On October 1, 2024, for the ninth consecutive year, Worker’s Compensation (Work Comp) rates in Wisconsin dropped. Overall, there will be a decrease of 10.5% across all employee classifications. Physician rates remain low and competitive. Rates have decreased for physicians within hospital systems and hospital employees other than professional employees.
WisMed Assure also works with dentists and non-physician owned medical professional offices, like chiropractors, therapists, etc.; many of which share this same classification (8832) (see the chart below).
The following chart shows the current and new rates for the listed class codes (rates are per $100 of payroll):
| Code | Description | Current Rates | New Rates 10/1/2024 | Change |
| 8832 | Physician & Clerical | 0.28 | 0.25 | -11% |
| 8833 | Hospital Professional Employees | 0.76 | 0.70 | – 8% |
| 9040 | Hospital All Other Than Professional | 3.61 | 3.22 | – 11% |
This year there is a very small change to minimum premiums for experience rating. There is an increase of $2,548 in annual remuneration to calculate premiums for sole proprietors and partners and a $3,796 increase in the maximum annual remuneration used for executive officers.
Another difference in how Worker’s Compensation is governed in Wisconsin is there is not a set fee schedule for medical services provided. The Wisconsin Medical Society has long advocated to keep Wisconsin from adopting a Work Comp fee schedule.
Mark Grapentine, Wisconsin Medical Society Chief Policy and Advocacy Officer and a medical liaison to the Worker’s Compensation Advisory Council, told Wisconsin Health News that the current system gets workers back on the job faster and more satisfied with their health care than in other states.
“The news of yet another significant decrease in rates is good news across the board,” he said.
He called the state’s current worker’s compensation system a “national model” that provides injured workers easy access to high quality care. Though he noted that Wisconsin can do better when it comes to its workplace injury rate, and getting that below the national average would be a win-win for everyone.
If you have questions about Worker’s Compensation coverage rates and dividend programs for your practice, please contact Brian Fowler, WisMed Assure Account Director, at brian.fowler@wismedassure.org 608.442.3718.
Note: This article is for informational purposes only and should not be considered as insurance advice related to your specific policy or situation. Please consult with a qualified insurance advisor or professional before making any policy decisions. Full disclaimer and contact information.