Committee to Start on Formulary Required by Reform Law

Thursday, May 31, 2018 | 0

The Kentucky Workers' Compensation Medical Advisory Committee will meet today to discuss a drug formulary required by legislation that passed in March.

House Bill 2 requires the workers' compensation agency to develop a formulary and treatment guidelines in an effort to curb opioid abuse, and reduce medication costs.

The advisory committee's agenda for today's meeting shows it will consider a number of factors, including evidence-based information, ease of implementation, cost to stakeholders, stakeholder input and tracking of results.

The committee meets at 2 p.m. in the Oscar Morgan Conference Room, 657 Chamberlain Ave., Frankfort.

Also as a result of HB 2, the state Department of Insurance on Wednesday approved a workers' compensation loss-cost rate reduction of 5.3%, in keeping with a recommendation from the state's rate-making body.

The National Council on Compensation Insurance made the filing in large part because of cost-saving measures set up by the bill, including the formulary and a limit on income benefits after age 70. 

The lower rate takes effect on July 14.

CORRECTION: An earlier version incorrectly reported the date that lower loss costs filed by NCCI takes effect.