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Workers' compensation benefits will increase by 5.9% in July 2024
WHAT IS AN L&I COLA?
A cost of living adjustment is an adjustment to the benefits injured workers are receiving in their workers' compensation claims. The payments they receive are increased because the state's average wage, as calculated by the Washington State Employment Security Department, also increased by 5.9%. Therefore, L&I recalculates benefits each year to reflect the annual changes in the state's average annual wage.
The resulting COLA for 2024/2025 increases the maximum monthly benefit to $8,913.80 for L&I benefits.
WHO GETS A COLA?
Injured workers receiving monetary benefits under the Washington State workers' compensation system will see an increase of 5.9% in their time-loss and pension payments from L&I in July 2024.
The increase applies to workers hurt on or before July 1, 2023. Injured workers do not receive a COLA for the first year of their claim.
HOW DO I GET A COLA?
Typically, injured workers do not need to do anything to have their benefits adjusted based on the COLA. The Department of Labor and Industries or self-insured employers Third Party Administrator (TPA) should automatically calculate your adjustment and apply it.
If you do not receive your adjustment that you're entitled to, then you will need to reach out to L&I, the TPA, or your attorney to notify them so that it can be fixed.
I STILL HAVE QUESTIONS ABOUT THE COLA AND HOW IT AFFECTS MY CLAIM, WHO DO I TALK TO?
If you still have questions about COLA and the affect it may have on your claim, then be sure to reach out to OD Law where we can review your claim for FREE and answer your questions.
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