Montana State Fund Proposes Rate Cut, Continuing Trend of Lower Costs for Employers
HELENA, Mont. (Date) — Montana businesses could soon see some relief in their workers’ compensation insurance costs. Montana State Fund (MSF), the state’s non-profit workers’ compensation insurer, has proposed a 5% average rate reduction for Montana businesses. If approved, the new rates would take effect on policies beginning July 1, 2026.
The rate reduction would be welcome news to the 24,570 businesses and approximately 250,000 employees insured by MSF across the state. The proposed decrease continues a trend of MSF lowering rates, with rates now at their lowest level in the company’s 35-year history.
“This is great news for everyone in Montana, whether you own a business or work for one,” said Holly O’Dell, president and CEO of Montana State Fund. “Lower costs and stable rates help businesses grow, create new jobs, and invest in safer workplaces.”
Decades of Rate Reductions
According to MSF, rates have been lowered by 64.6% in the past 20 years and 18.8% in the last three years. This marks the sixth consecutive year of rate reductions and 20 years since MSF saw a rate increase.
O’Dell credits the rate reductions to a combination of factors, including safer workplaces and strong support for injured workers. MSF partners with employers to promote safer workplaces and provides strong claims services to help injured workers return to their jobs. O’Dell explained in a recent interview: “Every business needs to purchase workers’ comp, protect their employees, and want to do so at the best possible cost with the best possible service. We are driving business by driving down rates.”
Commitment to Montana Businesses
O’Dell also emphasized MSF’s commitment to providing value to Montana businesses. As a non-profit, MSF is focused on providing stability and competitive rates. O’Dell said: “We’re not-for-profit, so we’re going to have a Montanan serving you when you call. We’ll lower your rate as much as we can, and every time the board issues a dividend, we’ll send you a check back into your pocket for your investment in us and in each other.”
O’Dell likened MSF to a co-op, where the more employers who participate, the lower the rates for everyone. “The more employers that choose to buy their coverage from Montana State Fund, the more the rate lowers for everybody, and the more we can deploy services all across every corner of Montana. That just floats all boats,” she said.
Montana businesses interested in learning more about MSF can visit montanastatefund.com.
