Minnesota Legislature
Workers' comp retention levels addressed
By Lee Ann Schutz
Employers hold workers compensation insurance to protect against catastrophic losses in the case of employee work-related injuries.
An insurer can select a deductible level, commonly known as a “retention level.”
The House passed HF2994 125-0 Monday that would modify these levels. Sponsored by Reps. Tony Albright (R-Prior Lake) the bill now moves to the Senate for consideration where Sen. Dan Sparks (DFL-Austin) is the sponsor.
The bill would allow workers’ compensation insurers to maintain a jumbo retention limit of $2 million.
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