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Workers' Compensation Insurance

Class Code 4693

Pharmaceutical Goods Manufacturing NOC

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Martin Summers

Insurance Agent

Class code 4693 is used for employees that work within a facility that manufactures pharmaceutical or surgical goods, not otherwise classified. This is a broad spectrum category and may include things such as magnetic blankets, braces for handicapped individuals, arch supports, artificial limbs (made of metal or wood), bunion straps, corn plasters, trusses, and surgical dressings like compresses and bandages. The manufacturing process and raw materials will both vary greatly from product to product, and employees may range from physicians, chemical engineers, and pharmacists to line workers involved in labeling and packaging.

This classification does not include the manufacturing of such things as drugs, medicines, or pharmaceutical preparations like toothpastes, cosmetics, and ointments, however. In addition, products made within a dental laboratory and those considered to be scientific instruments would also be excluded.

Florida Rates for Class Code 4693

2014 Rate: $1.39
2013 Rate: $1.49

Each workers' compensation class code in Florida has a unique rate assigned to it based on the likelihood of workplace injuries for the group of employees throughout the state that are assigned to that class code. Click this link for more information about the ratemaking process. The rates used in Florida workers comp insurance were increased in 2014 by an average of 6.1% by the Florida Office of Insurance Regulation.

For class code 4693, this rate change resulted in a 7.2% decrease from 2013 to 2014. The 2014 rate for this classification is 1.39 dollars for every 100 dollars of remuneration. With the decrease in rates this year, the 2014 rate is 65.6% below the 2003 rate of 4.33 dollars.

Despite the manual rates being set by the Florida government for workers comp class codes, there are still ways that employers can lower their overall workers compensation costs and total premium. Our insurance agents would like the opportunity to discuss these premium discounts and other cost savings measures with your business. Contact us today to receive competitive quotes for your business.

Other Related Class Codes

  • 4692 for dental laboratory
  • 3685 for scientific instrument manufacturing
  • 4825 for drug, medicine, or pharmaceutical preparation manufacturing
  • 4611 for drug, medicine, or pharmaceutical preparation – no manufacturing of ingredients

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