Today’s post comes from guest author Rod Rehm, from Rehm, Bennett & Moore.
Workers’ compensation laws are under constant attack by “reformers” from industry, insurance and self-insureds. NCCI is the National Council on Compensation Insurance, a group that participates in many aspects of workers’ compensation, including setting premiums. The NCCI recently released presentations regarding big issues in workers’ compensation, including information about prescription drug cost-control (listed first below) and an insurance industry financial review (listed last below). These presentations were part of the NCCI’s 2016 Annual Issues Symposium.
- “Workers’ Compensation and Prescription Drugs: 2016 Update”
- “The Affordable Care Act and Workers Compensation”
- “Regulatory and Legislative Trends Workshop: Channeling Change”
- “Insurance in an Exponential World”
- “The Shape of Things to Come for P/C Insurance Markets and the American Workplace”
These presentations are interesting. I recommend reviewing them for a snapshot of our current workers’ compensation system in America. The financial review link (“Shape of Things to Come … ” above) shows high net income for the insurance industry. Is the constant pressure to “reform” workers’ compensation law fair and reasonable? Is maximizing profit for the insurance industry more important than fair compensation of worker injury and death?