San Francisco, CA – On September 21, 2012 the WCIRB Actuarial Committee and the Claims Working Group held a joint meeting to continue their evaluation of the cost impact of Senate Bill No. 863 (SB 863) which was signed by California Governor Jerry Brown on September 18, 2012. The meeting focused on those provisions of SB 863 pertaining to the impact of changes in benefit levels on claim frequency, the elimination of the “add-ons” to permanent disability ratings for psychiatric impairment, independent medical review, the elimination of the future earnings capacity factor for permanent disability ratings, and medical provider networks.
At the meeting, the Actuarial Committee recommended several refinements to the WCIRB’s preliminary cost evaluation of SB 863. The Actuarial Committee’s evaluation will be considered by the WCIRB Governing Committee at its September 26, 2012 meeting, and it is expected that the Governing Committee will vote to amend the WCIRB’s January 1, 2013 Pure Premium Rate Filing at that time. The agenda for the Governing Committee meeting is available on the WCIRB website.
The California Department of Insurance public hearing that was originally scheduled for September 24, 2012 will be rescheduled pending receipt of the WCIRB’s amended filing. The WCIRB will issue an update once a new hearing date has been announced.
Source: CA WCIRB