Montana State Fund announces 10% rate reduction

Montana State Fund, the state’s largest workers’ compensation insurer, announced Friday it is reducing rates by 10%.

Holly O’Dell

Provided photo

The company said accidents in the workplace remain a concern, but it marked a significant milestone reducing rates by 60% since 2007. They also said there was a 5% reduction in 2023.

“In our effort to become Montana’s favorite workers’ comp carrier, we are thrilled to be able to provide lower costs to employers across the state,” Holly O’Dell, MSF president and chief executive officer, said. “We are Montanans serving Montanans and as the not-for-profit option to insure their workers, we want employers to know we are looking out for them.”

Montana State Fund officials have said that next to payroll, workers’ compensation insurance is the highest expense on an employer’s books.

Richard Miltenberger, the board chair of MSF, said the reduction is not just about saving money, but empowering businesses to thrive and access the company’s services easily.

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