Legislation Update
NCCI Proposes 1 % Workers ' Comp Rate Cut
The National Council on Compensation Insurance , or NCCI , is proposing a 1 % drop in workers ' compensation insurance rates starting Jan . 1 , 2025 , citing a " healthy " workers ' compensation system despite elevated consumer inflation .
The NCCI said that factors such as decreasing claims frequency and stable benefit costs relative to wage growth have helped keep system costs low , noting that while " consumer inflation has been elevated , the inflation for workers ' compensation medical costs remained stable ." Businesses have consistently experienced declining workers ' compensation rates in recent years , with a 15.1 % rate decrease in 2024 and an 8.4 % decrease in 2023 . But earlier this year , lawmakers passed and Gov . Ron DeSantis signed a bipartisan bill ( SB 362 ) aimed at increasing the number of providers willing to treat workers ' compensation patients by boosting reimbursement rates .
Slated to take effect on Jan . 1 , the new law increases the pay doctors get to 175 % of the Medicare rate , with surgeons qualifying for a maximum reimbursement rate of 210 %. The measure also boosts reimbursement rates for medical expert witnesses who testify in workers ' compensation cases . NCCI said that without the new law , its proposed overall rate decrease would have been 6.4 %. The state Office of Insurance Regulation will review the proposal and could require changes . NCCI
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12 Ditchmen September / October