Workers’ Comp Advisor will take its annual winter break starting Monday, Dec. 23, 2024 and resume daily publication on Friday, Jan. 3, 2025. Happy Holidays to all of our valued subscribers!

Massachusetts Insurance Dept Sets Hearing on ‘Excessive’ Rate Decrease 

• The Massachusetts Division of Insurance has scheduled a virtual hearing for Jan. 14, 2025 to consider the request of the Workers’ Compensation Rating and Inspection Bureau of Massachusetts for a general revision of workers’ compensation insurance risks and premiums, at a statewide average rate increase of 7.1% and an effective date of July 1, 2025.
• The Rating Bureau believes the state Division of Insurance cut rates too much for 2024, ordering what it called an “excessive” 14.6% rate decrease beginning July 2024, a decrease that was nearly double what the WCRIB recommended (-7.6%), according to media reports.
• That rate decrease lowered the rates “below the range of reasonable and adequate rates required,” WCRIB maintains. That decision on 2024 rates remains under appeal.
• WCRIB files on behalf of the more than 300 carriers offering workers’ compensation in the state.
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Florida WC Physician, Medical Witness Fees Set to Increase

• Florida will increase the maximum medical reimbursements for physicians and surgical procedures allowed by Medicare and the maximum fees for expert witnesses during depositions on a workers’ compensation claim, effective Jan. 1, 2025.
• Legislation passed earlier this year increases the maximum reimbursement allowances (MRA) for physicians from 110% to 175% of the reimbursement amount allowed by Medicare and increases the MRA for surgical procedures from 140% to 210% of the reimbursement amount allowed by Medicare.
• The maximum hourly amount rate paid to expert medical witnesses will increase to $300 per hour. If an expert witness is subject to the daily rate, the maximum amount allowed is increased to $300 per day.
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NYSIF Chief Highlights Accomplishments

• Three years into the job, Gaurav Vasisht, executive director and CEO, of the New York State Insurance Fund cited getting payments to injured workers faster is one of the accomplishments that he’s pleased with.
• “We’re approaching some impressive numbers for getting injured workers paid faster. We’re approaching the million payment mark,” he told the publication City & State New York.
• He also highlighted NYSIF’s support for small businesses and its mobile claim app, which provides answers to the half-dozen most common questions previously handled by the Fund’s call center.
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