Benefits Schedule For the Period
July 1, 2023 through June 30, 2024
The Washington statewide average wage for 2022 has been computed by the Employment Security Department at $84,167. This represents an increase factor of 1.0201071411 over 2021 when the wage was $82,508.
Cost of Living Adjustment (COLA)
Cost of living adjustment factors are presented in two different ways. The Cost of Living Adjustment (COLA) Chart, 5-decimal increment and cumulative factors chart shows both the increment and cumulative factors in the five-digit format.
The Cost of Living Adjustment (COLA) Chart, 10-decimal increments only chart provides the incremental factors in 10-decimal format, for those who choose to use that option.
Per RCW 51.32.075 there will be no cost of living adjustment to time-loss rates for dates of injury on or after July 1, 2011 until the second July after the date of injury. However, time-loss rates set at either minimum or maximum will increase to the new minimum or maximum rate.
Information on how to apply the COLA increase is in the Time-Loss Compensation chapter of the Claims Adjudication Guidelines.
Minimum and Maximum Time-Loss Rates
Minimum and maximum time-loss rates will increase effective July 1, 2023.
The maximum monthly time-loss rate for dates of injury on or after July 1, 2023 is $8416.70.
You may also access the Maximum Time-Loss Rates chart; it covers claims with dates of injury on or after July 1, 1988 through the present.
Effective July 1, 2023, 15% of the state’s average monthly wage is $1052.09. For those eligible for that minimum time-loss rate, remember to add $10.00 for a spouse or registered domestic partner and $10.00 for each dependent child up to five dependents.
Further details are available in the Minimum Time-Loss Rates chart.
Additional information regarding maximum and minimum time-loss rates is available in the Time-Loss Compensation chapter of the Claims Adjudication Guidelines.
Loss of Earning Power
For loss of earning power (LEP) calculations for the period from July 1, 2023 through June 30, 2024, 1.5 times the state’s average monthly wage is $10,520.87 ($350.69 daily).
An updated copy of the Loss of Earning Power (LEP) calculation worksheet is now available.
More Information on our Website
Self-Insurance has a web page titled Benefit Calculations Cost of living adjustment charts, minimum and maximum time-loss charts, and the LEP worksheet can all be accessed from this web page.
Questions?
Contact Brad Gunderson at brad.gunderson@Lni.wa.gov or 360-902-5375.
Printable version: https://lni.wa.gov/insurance/_docs/COLAMailer2023.pdf
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