Bill Impacting Split Point, Premium Credit Projected to Decrease WC Premiums

A bill that aims to reduce workers' compensation premiums awaits consideration by the Missouri House of Representatives as lawmakers return from their spring break to the state Capitol today. The state Senate voted 32-0 to pass Senate Bill 700 by Sen. David Schatz, R-Sullivan, on March 3, sending it to the House. The measure changes the medical cost limit in the state's uniform experience rating plan from $1,000 to 20% of the current split point of primary and excess losses. Since the current split point set by the National Council on Compensation Insurance is $15,000, the impact ...