The Pennsylvania Compensation Rating Bureau (PCRB) has announced that it is filing for approval of changes to the Pennsylvania experience modification rating calculation.
Who Will It Effect?
Potentially any employers with employees in Pennsylvania.
When Will It Occur?
The filing is expected this month (June 2023) with an effective date of April 1, 2024.
How Will It Impact Employers?
At this time, it is clear that Pennsylvania employers will see a change in their experience modification based on the new rating calculation. The PCRB is expected to host webinars and trainings, as well as, post a new experience modification calculator on its website in the coming months. Conner Strong & Buckelew will be keeping abreast of the PCRB roll out and providing timely information and individualized impact analysis to our clients.
What Should Employers Do Now?
Prepare to embrace the change, be on the lookout for updates from Conner Strong & Buckelew and communicate with your account team early in the renewal cycle.
