Cheyenne, WY—The Wyoming Department of Workforce Services (DWS) Workers’ Compensation Division has proposed a significant reduction in workers’ compensation rates. For 2025, rates will decrease by 12 percent compared to the 2024 industry base rates. Base rate changes at the class level will vary, but businesses may see up to a 25 percent decrease.
A contributing factor to the significant proposed rate reduction is the result of a bill recommended by DWS and passed by the 67th Wyoming Legislature. The bill allows DWS to consider the investment earnings on the contingency reserve when setting annual rates, resulting in a significant overall rate decrease for 2025. The 2025 base rate decrease is in addition to the six percent decrease in 2024, nearly a 20 percent decrease over the two years. Once approved, the proposed changes will take effect starting in January 2025. The 2025 proposed class rates are listed on the department’s website at: dws.wyo.gov/baserates.
“This proposed decrease highlights our dedication to fostering the economic sustainability of Wyoming’s employers and business owners’ commitment to a safe and healthy workplace,” said DWS Deputy Director Jason Wolfe.
Public input is encouraged, and written comments regarding the proposed rate changes should be submitted to the Workers’ Compensation Division, Employer Services Section, Attn: Workers’ Compensation Industry Base Rate Hearing, 5221 Yellowstone Road, Cheyenne, WY 82002. To be included in the record of the rate-setting proceedings, comments must be received by Oct. 14.
The full public notice is viewable on our website at: dws.wyo.gov/publicnotice.
“Lowering workers’ compensation premiums gives Wyoming businesses the freedom to invest more in their teams, drive growth, and strengthen workplace safety,” said Liz Gagen, Director of the Department of Workforce Services.