Unemployment insurance costs addressed in Massachusetts

Unemployment Insurance

New legislation focused on unemployment insurance costs passes in Massachusetts Massachusetts businesses are expected to save money on their unemployment insurance coverage thanks to new legislation that has been signed into law by Governor Deval Patrick. The legislation is a compromise between lawmakers that want to raise the state’s minimum wage and those that want to take action on unemployment throughout Massachusetts. The new law is expected to be well received among the state’s businesses, many of whom have been expressing concerns regarding the costs of unemployment coverage. Legislation aims…

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Unemployment insurance legislation could freeze costs for businesses

unemployment insurance rate freeze

New bill helps to give companies a bit of a break on the cost of the coverage. Should a new budget bill be passed in Massachusetts after having already advanced in the House as of Monday, it will mean that the unemployment insurance rates that businesses have to pay will be frozen this year in order to avoid a surge in employer fees in order to cover benefits for the jobless. The proposal was made by Governor Deval Patrick to block the increase that had been scheduled. The Governor of…

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Lawmakers in Massachusetts approve rate freeze for the state’s unemployment insurance plans

Massachusetts lawmakers have passed a $130 million spending plan this week. The legislation includes a provision that freezes the unemployment insurance rate that businesses have to pay. This is the fourth consecutive year that lawmakers have put a freeze on the insurance rate, hoping to spare the state’s businesses from costly and, at times, excessive rate increases from insurance companies. Legislators believe that the rate freeze will help stimulate the state’s economy, as businesses will be saving approximately $220 per employee on insurance coverage. The nation’s economy is still showing…

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