RBRVS Could Drive 2014 Pure Premium Increase to 8.7%

By Greg Jones, Western Bureau ChiefSAN FRANCISCO – Switching to a Resource-Based Relative Value Scale fee schedule will increase loss costs by 1.8% and drive the indicated 2014 pure premium rate to $2.75 per $100 of payroll, according to actuaries for California’s ratemaking agency.The indicated rate would be 8.7% higher than average filed rates of $2.53, and 1.8% higher than the $2.70 pure premium rate filing the Workers’ Compensation Insurance Rating Bureau submitted to the insurance commissioner on Sept. 13.The Division of Workers’ Compensation on Oct. 1 announced th...