SB 288
Modifies the law relating to workers' compensation premium rates
LR Number:
Last Action:
4/21/2015 - Voted Do Pass S Small Business, Insurance and Industry Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2015

Current Bill Summary

SB 288 - Currently, the uniform experience rating plan of workers' compensation insurance must prohibit an adjustment to the experience modification of an employer if the total medical cost does not exceed $1,000, the employer pays all of the medical costs, there is no lost time from the employment (subject to exceptions), and no claim is filed. This act changes the medical cost amount limit to 20% of the current split point of primary and excess losses under the uniform experience rating plan.

The act further provides that, for purposes of calculating the premium credit under the Missouri contracting classification premium adjustment program, an employer within the construction group of code classifications may submit to the advisory organization the required payroll record information for the first, second, third, or fourth calendar quarter of the year prior to the workers’ compensation policy beginning or renewal date, provided the employer clearly indicates for which quarter the payroll information is being submitted.

This act is identical to provisions contained within CCS/SCS/HB 615 (2015) and HB 1997 (2014).