Big news for Nevada businesses: Starting in 2025, workers' compensation rates are set to go up significantly. This isn't just a small change; it's a statewide increase that will raise premiums for employers, which could be a real financial challenge to local companies. While businesses will feel this change most directly, it's something both employers and employees need to understand, especially concerning claims, coverage, and benefits.
What This Means for Employers
The main reason for this rate hike is an increase in medical costs and the number of claims being filed. Employers will have to prepare their budgets for these higher premiums. To manage this without cutting corners, they might need to get more serious about workplace safety. By taking steps to prevent injuries and improve safety rules, they can help offset some of the extra costs.
How Employees Are Affected
For employees, these rate changes won't mean more out-of-pocket costs. However, there's a chance it could slow down how quickly they get benefits or process claims as insurers work out the new system. Even with these potential shifts, employees still have the right to workers' comp if they get hurt at work. This includes things like medical care, getting paid for lost time, and rehabilitation services.
How Everyone Can Navigate This Together
With Nevada workers' comp rates on the rise, it's a perfect time for employers and employees to get a firm grasp of their rights and duties under the law. Employers should review their current insurance plans and consider getting legal advice to make sure they're following any new rules. For employees who get hurt, filing your claim quickly and accurately is more important than ever to avoid delays during this transition.
Need Legal Help with a Workers' Comp Claim?
If you're wondering how these new rates will affect your coverage or if you need help with a claim, the workers' comp attorneys at Benson & Bingham Accident Injury Lawyers (aka Benson & Bingham Injury Law) in Las Vegas are ready to assist. Our team of Vegas-based workers' compensation lawyers has over 25 years of experience managing these cases and can guide employers and employees toward a favorable outcome.
Benson & Bingham is here to help you get the benefits you're entitled to as these new Nevada workers' compensation changes are implemented throughout the state.
