OKLAHOMA CITY
The state's insurance commissioner states the workers' compensation insurance costs for Oklahoma companies are required to decrease in 2012.
Commissioner John Doak states the insurance coverage Department now approved a filing through the National Council on Compensation Insurance for any reduction in an essential component from the workers' compensation insurance rate.
Doak states the decrease is caused by legislative changes approved by congress this season to its workers' compensation system.
The Republican-controlled Legislature completely rewrote the state's workers' compensation laws and regulations this season. One of the changes would be a five percent decrease in the charge agenda for medical compensation rates along with a requirement that doctors and also the court stick to a across the country recognized group of treatment recommendations.
Both changes are required to significantly reduce medical costs.
