Workers’ Comp Filing Approved in Oklahoma, Rates Expected to Drop

The state’s insurance commissioner says the workers’ compensation insurance rates for Oklahoma businesses are expected to drop in 2012.

Commissioner John Doak says the insurance department has approved a filing by the National Council on Compensation Insurance for a decrease in a key component of the workers’ compensation insurance rate.

Doak says the decrease is the result of legislative changes approved by lawmakers this year to its workers’ compensation system.

The Republican-controlled Legislature completely rewrote the state’s workers’ compensation laws this year. Among the changes was a 5 percent reduction in the fee schedule for medical reimbursement rates and a requirement that physicians and the court adhere to a nationally recognized set of treatment guidelines.

Both changes are expected to dramatically reduce medical costs.