NCCI Recommends 5.3% Cut in Premiums, Thanks to Legislation This Year

Just two months after the Kentucky legislature passed a major reform bill that creates a workers' compensation drug formulary, and limits medical benefits and attorneys fees, the state's rate-maker has recommended a 5.3% reduction in rates. "How about that," said state Rep. Adam Koenig, R-Erlanger, who shepherded House Bill 2 through the General Assembly after two years of debate and changes.  The rate reduction, if approved by the Kentucky Department of Insurance as expected, would be seen as a major victory for business interests and coal companies...