Arkansas lawmakers to consider mandate on comp spend

Lawmakers in Arkansas aim to create a requirement that a certain percentage of workers compensation premium collected be spent on benefits.

S.B. 418, introduced Monday, would require insurers to have a medical loss ratio of at least 85% for workers compensation claims.

The bill defines “medical loss ratio” as the measure used in workers compensation insurance “to assess the percentage of premium dollars spent on healthcare claims and wage claims versus administrative costs.”