HCS/HB 430 - Under current law, the experience rating plan used by workers' compensation insurers prohibits an adjustment to the experience modification of an employer if the total medical cost does not exceed $1,000. Under the act the plan shall prohibit adjustments if the cost does not exceed 20% of the current split point of primary and excess losses under the uniform experience rating plan. The formula to equalize premium rates for employers within the construction group of code classifications shall be the formula in effect on January 1, 1999.
Employers within the construction group of code classifications may submit payroll records, to the advisory organization which makes a uniform classification system, for the purposes of calculating the premium credit under the Missouri contracting classification premium adjustment program.
CHRIS HOGERTY