Capitol Fax.com - Your Illinois News Radar » The Key to Lowering Workers’ Compensation Costs is Insurance Transparency and Oversight
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
The Key to Lowering Workers’ Compensation Costs is Insurance Transparency and Oversight

Thursday, Mar 5, 2015

[The following is a paid advertisement.]

In 2011 the Workers’ Compensation “Reform” package was signed into law, aimed at lowering costs for employers in Illinois. These changes have had a negative effect on workers in Illinois and their ability to receive fair and reasonable compensation when they are injured on the job and have not resulted in insurance premium reductions for employers in Illinois, even though workers’ compensation costs have undeniably come down.

The National Academy of Social Insurance reports workers’ compensation is the second most profitable line of insurance after auto insurance. Over 300 insurance companies compete for and write workers’ compensation insurance in Illinois, more than just about any other state in the country. If Illinois is so unprofitable, why are these insurance companies climbing over one another to sell insurance here? It may be because insurance companies in Illinois are essentially unregulated when it comes to setting insurance premiums.

Decreased benefits for injured workers, medical reimbursements plummeting, claims falling, and reduced costs have all resulted in big profits for the insurance industry. This is the real result of the 2011 workers’ compensation reform.

Any further changes in workers’ compensation laws should instead look to promote insurance premium transparency and oversight – not further sacrifices by the injured worker.

For more information on workers’ compensation, click here.

- Posted by Advertising Department        

No Comments

Be the first to comment.

Sorry, comments for this post are now closed.


* Pritzker thanks Abbott Labs - "Our rate of rise is looking less and less exponential" - Praises local groups for pitching in - Shoutout to #SpritzersWithPritzker - Dr. Ezike: "If you think you don't have a case in your zip code that's probably not actually the case" - Pritzker defends pending minimum wage hike - Still no date for IDES fix - Could come back in the fall - More testing in African-American areas - Curve not bending down yet - Will be posting PPE contracts online - Following Gov. Baker's lead on contact tracing - Dr. Ezike outlines DHS DD center readiness - Addresses federal halt to funding drive-through testing - "I think everybody needs to think seriously about canceling large summer events" - Plans to pursue workshare program
* 1,344 new cases, 66 additional deaths
* Ted E. Leverenz
* COVID-19 roundup
* Worst case scenario: "Illinois could lose more than $28 billion between calendar years 2020 and 2023"
* Today's heroes: Tony and Lisa Yuscius
* Question of the day
* The testing situation
* Still no word on when gig workers can access Illinois unemployment insurance
* *** UPDATED x1 *** National stockpile runs dry as feds stop supporting drive-through sites
* 6.6 million new jobless claims
* Open thread
* *** LIVE COVERAGE ***
* *** UPDATED x1 - 50 at Shapiro, 29 at Ludeman *** Several Murray Developmental Center residents, 1 staff test positive
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............

...............

...............


Loading


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller