WCIRB to Submit Filing in Early September
On August 7, 2013, the WCIRB advised that its Governing Committee unanimously approved the filing of proposed January 1, 2014 advisory pure premium rates that average $2.62 per $100 of payroll, which is 3.4% above the industry average filed pure premium rate of $2.53 per $100 of payroll as of July 1, 2013. At that time, the WCIRB anticipated making its filing in mid-August. See related story WCIRB to Propose Regulatory and Rate Changes in Filing.
Presently, the Division of Workers’ Compensation (DWC) is developing regulations to transition the California Official Medical Fee Schedule to a Resource-Based Relative Value Scale (RBRVS) basis beginning January 1, 2014.
Following consultation with the California Department of Insurance (CDI), the WCIRB has decided to defer its pure premium rate filing to early September in order to provide additional time to evaluate the impact of these DWC regulations, once promulgated, on advisory pure premium rates prior to a CDI public hearing.