Trust GDC Educates Local Missouri Community about Changes Affecting the State’s Workers’ Compensation Experience Rating Plan

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Local Missouri insurance agency and risk management provider discusses state workers compensation changes.

Trust GDC of Missouri
Missouri business owners that choose not to work with a certified specialist in workers compensation will find themselves at a great disadvantage with this change.

Trust GDC, a locally based Missouri insurance agency and risk management provider,(also serving Illinois and beyond) is continually enhancing the level of service provided to their regional clients. Recently, Trust GDC has proactively made it their mission to educate the local community about changes that have been accepted and made to the state’s Workers’ Compensation Experience Rating Plan.

Effective July 1, 2011 changes approved by The National Council on Compensation Insurance (NCCI) and the Missouri Department of Insurance, Financial Institutions and Professional Registration, will impact medical claims filed throughout the state. The change discounts the impact of medical claims by a reported 70% and in return alters the current factors used in the experience rating formula.

So what does this all mean for those insured? Common outcomes for insureds across Missouri include:

  • An increase in their experience modification.
  • Elimination of the financial benefits of an insured paying their medical claims that are $1,000 of less.
  • Elimination of the impact of these small claims and elimination of the resulting loss control or follow-up that an insured would take to prevent repeat small claims.
  • The need for a return-to-work program for small medical claims.

According to B. Scott Minor, Certified Work Comp Counselor at TrustGDC, “Missouri business owners that choose not to work with a certified specialist in workers compensation will find themselves at a great disadvantage with this change”. Minor continued to explain, “Most agents will lead their clients to believe that this change is a negative one causing Experience Modifications and premiums to rise, when in fact he believes that those who know how to navigate the NCCI will find this a great opportunity to drive down work comp premiums to their lowest legal minimum.”

It’s important to note that according the NCCI the purpose of these sudden changes is to decrease the incentive for employers to pay medical claims without reporting them to the respective carriers – and thus eliminating the chance that business owners are neglecting to report proper loss data.

There are many moving pieces that can affect how this new statute will impact businesses and their employees across the state. Business owners alike have already questioned how this will ultimately affect their workers’ compensation costs.

With all this talk of change, it’s important to note the one element that will always remain the same – workplace culture. Although business owners are always looking for ways to save money on their coverage premiums, the ultimate solution is to cultivate a culture that promotes a safer, healthier jobsite. Luckily, Missouri business owners can benefit from Trust GDC’s certified specialists in work comp. Interested in learning more? Visit the agency’s Virtual Insurance Office to discover all of the coverage options available and receive a free, no obligation Missouri workers comp quote.

About Trust GDC:

For 128 years and counting, Trust GDC has been dedicated to creating long-term relationships with its clients and companies the agency represents. Providing a combination of business strategies, insurance and risk management, with integrity and trust, has lead Trust GDC to evolve into a most well-respected Missouri insurance agency. Striving to act in their clients’ best interest through professionalism, ethical business practices and continual education, Trust GDC also serves the diverse insurance needs of Illinois and beyond.


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Mike Romanski
Astonish Results
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