The state’s insurance commissioner says the workers’ compensation insurance rates for Oklahoma businesses are expected to drop in 2012.
Commissioner John Doak says the insurance department has approved a filing by the National Council on Compensation Insurance for a decrease in a key component of the workers’ compensation insurance rate.
Doak says the decrease is the result of legislative changes approved by lawmakers this year to its workers’ compensation system.
The Republican-controlled Legislature completely rewrote the state’s workers’ compensation laws this year. Among the changes was a 5 percent reduction in the fee schedule for medical reimbursement rates and a requirement that physicians and the court adhere to a nationally recognized set of treatment guidelines.
Both changes are expected to dramatically reduce medical costs.
Topics Workers' Compensation Oklahoma
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