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The Key to Lowering Workers’ Compensation Costs is Insurance Transparency and Oversight
Thursday, May 14, 2015 - Posted by Advertising Department [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.
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Springfield News: Broad Coalition of 60+ Organizations Voice Support for Illinois Low Carbon Portfolio Standard
Thursday, May 14, 2015 - Posted by Advertising Department [The following is a paid advertisement.] Over 60 organizations representing a broad coalition of business, labor, conservation and civic organizations from across Illinois and around the country signed an open letter to voice their support for the Illinois Low Carbon Portfolio Standard (LCPS) (HB 3293/SB 1585), currently being considered by the Illinois General Assembly. Signatories include the Chicago Urban League, Exelon, GE Hitachi, IBEW Local 15, Illinois AFL-CIO, Illinois Clean Energy Coalition, Illinois Hispanic Chamber of Commerce, Illinois Pipe Trades Association, Sargent & Lundy and United Scrap. Their support comes on the heels of a rally in the state capitol last week that drew nearly 600 Illinoisans who delivered a petition with over 10,000 signatures urging state lawmakers to enact the legislation. “Illinois’ nuclear facilities provide tremendous economic, reliability and environmental benefits to the state and the region,” said John Grimes, vice president of GE Hitachi Nuclear Energy. “The Low Carbon Portfolio Standard is the only legislation that properly values these plants. We urge the General Assembly to vote yes on this important bill.” Illinois’ six nuclear energy facilities generate nearly half of the state’s electricity and 90 percent of Illinois’ low-carbon electricity. However, three of these plants have been losing significant amounts of money each year and may soon close without legislative action. If these plants close early, it will cost the state an estimated $1.8 billion per year in economic activity, 8,000 jobs and up to $500 million per year in higher electric costs statewide, according to a State of Illinois report. Click here for the list of organizations that signed the letter.
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CPS and City of Chicago Downgraded to “Junk Bond Status” Yet Exelon Bailout Would Cost Them More than $20 million
Thursday, May 14, 2015 - Posted by Advertising Department [The following is a paid advertisement.] Maybe Exelon should bail out CPS and the City of Chicago instead of demanding a $1.6 BILLION subsidy form struggling family, business and government ratepayers. “A plan to financially reward Exelon Corp. for producing no-carbon energy and potentially save three Illinois nuclear plants from closure would cost ratepayers $1.6 billion over five years and strain budgets for financially strapped businesses and municipal governments, a study released Tuesday found.” - Associated Press, 4/21/15
 We simply can’t afford to pad the pockets of Exelon shareholders while governments from Chicago to Cairo are in such dire straits. Businesses and governments can learn how much the bailout would cost them at www.noexelonbailout.com/calculator. Just say no to the Exelon bailout. Vote no on SB1585/HB3293. BEST Coalition is a 501C4 nonprofit group of dozens of business, consumer and government groups, as well as large and small businesses. Visit www.noexelonbailout.com.
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