(1) Any employer who is also a licensee that has implemented a drug-free workplace program certified by the division shall be eligible to obtain a credit on the licensee's premium for workers' compensation insurance.
(2) Each insurer authorized to write workers' compensation insurance policies shall provide the credit on the workers' compensation premium to any employer who is also a licensee for which the insurer has written a workers' compensation policy. The credit on the workers' compensation premium shall not:
(a) Be available to those employers that are also licensees who do not maintain their drug-free workplace program for the entire workers' compensation policy period; or (b) Apply to minimum premium policies.
(3) The Department of Insurance shall approve workers' compensation rating plans that give a credit on the premium for a certified drug-free workplace so long as the credit is actuarially sound. The credit shall be at least five percent (5%) unless the Department of Insurance determines that five percent (5%) is actuarially unsound.
(4) The credit on the workers' compensation premium may be applied by the insurer at the final audit.