Workers’ Comp Rates Drop in Florida: What Does that Mean for You?

You like chips but not the pickle, and she likes the pickle but not the chips. That’s a win-win situation. You put a large markup on something you are selling, and your customer negotiates to bring the price down, yet you still make a profit. That’s a win-win situation. You develop a new program and offer it for free, and it becomes the industry standard. Another win-win.

No question, a true win-win is objectively a great thing. That is why the recent news about the drop in Florida workers’ compensation insurance rates is a great thing – it’s a win-win.

At first blush, you might think that a drop in workers’ compensation insurance is only a win for Florida employers, given that they are the ones who purchase the insurance. But not so fast. Employees actually realize some benefits as well. In this article, we are going to talk about how the sharp decrease in Florida workers’ compensation rates has benefits all around. 

If, after reading this article, you have more questions about workers’ compensation, then we welcome you to contact a Florida workers’ compensation lawyer in Jacksonville – at RITE Law. We have your best interests at heart, and we have the training and resources to make sure that you receive the compensation you deserve. Our number is (904) 500-RITE or you can fill out our contact form online. We provide a free case evaluation , so call today.

The Basics of the Florida Workers’ Compensation Law

Florida law – specifically, the Florida Workers’ Compensation Act – requires employers to obtain workers’ compensation insurance for their workers. Accordingly, if a worker in Florida gets injured on the job, his or her medical costs and some portion of lost wages will be paid by the workers’ compensation insurance obtained by the worker’s employer. 

The Florida law is specific as to the amount you receive in benefits based upon your injuries and your continued ability to work. Of course, as is common with any workers’ compensation program, you do not need to prove any fault for your workplace injury. You only need to show that your injury occurred when you were on the job. 

Almost all occupational injuries and diseases are covered. However, if you suffer from a mental disorder (such as depression) that does not come from a physical workplace injury, then the mental disorder may not be covered.

The State of Florida, through the Florida Office of Insurance Regulation (OIR), has the authority to review and regulate the rate for workers’ compensation in Florida. The good news is that the OIR just approved a decrease in insurance rates.

Florida Approves a 6.6% Decrease in Florida Workers’ Compensation Insurance Rates

News that the workers’ compensation insurance cost decreased for the year 2021 is a fantastic sign for employers and employees. What that lower rate signifies is two-fold:

1. It means that fewer workers’ compensation claims are being made, and therefore
2. Florida is likely becoming a safer place to work.

Safer work environments are always better for employees, employers, and the economy at large. Also, more affordable insurance rates, means that employers will either be able to get better coverage for their employees or simply have more money on hand to hire more employees. Of course, given the current state of the economy during the pandemic, the chance for expanded employment opportunities is welcomed. 

Importantly, the decrease in workers’ compensation insurance rates is based on data from 2017 through 2019. So, for those who may think that this change is due to the massive unemployment, and empty workplaces, resulting from the pandemic, that would be incorrect. Rather, the numbers on which the insurance companies are lowering their rates are pre-pandemic numbers. 

So, overall, the decrease in workers’ compensation insurance rates is a win-win for employers and employees. However, if you are ever injured on the job, you may want to consider having an experienced workers’ compensation attorney by your side to assist. 

For Help with a Workers’ Compensation Claim, Call a Florida Workers’ Compensation Lawyer in Jacksonville Today

The Florida Workers’ Compensation Act was established to help injured and/or ill employees and their families overcome the financial issues that result from work-related injuries and illnesses that occur within the state of Florida, outside the coverage of any type of federal coverage. If you are injured as a result of a work-related incident, or if you develop a condition or disease as a result of the type of work you do, your employer’s workers’ compensation coverage may entitle you to medical, partial wage replacement, and possibly permanent damage benefits.

Although you are not required to have an attorney to represent you in your claim, it is highly recommended. That is because, without an attorney, insurance companies are most likely going to cut corners on your case. 

At RITE Law, we started the firm for one reason – to help those in Florida and elsewhere have the resources of a firm that was “big enough to fight but small enough to care.” At Rudolph, Israel, Tucker & Ellis (RITE law), we have the resources and experience to go to trial when it is necessary, and we have the wisdom to advise you appropriately. 

Expect lots of attention, passionate representation, and a healthy disdain for big insurance companies. We believe that leads to the best result possible. Unlike larger firms, your case isn’t handed to a paralegal or assistant to do the heavy lifting. The attorney you meet initially is the one who will be by your side every step of the way. 

We also take pride in creating an atmosphere where every client is treated like family. Family members stick up for one another no matter what. You should expect nothing less from the RITE Law DBA claims attorneys in Jacksonville.



Without help from the RITE team, making your own personal injury claims can be very difficult. When you turn to our firm, we spring into action, making sure that every detail of your claim is addressed. Call us for help. Our number is (904) 500-RITE or you can fill out our contact form online. We provide a free case evaluation , so feel free to call us today.