Workers' Compensation Rates on the Rise - CID Review Blog by ...

Everything is getting more expensive. From the price of gasoline to the cost of milk. I just filled my car with gasoline. Ouch!

Included in these rising costs are the increases seen in health insurance. I recently wrote a white paper about health care costs for CID. You can download a pdf copy of the paper. In the white paper, I discuss the rising cost of health care.

As we approach another Presidential election, the issue of health care reform will undoubtedly get more attention. I?ve said all along that it?s not really health care reform so much as it is health care reimbursement reform. There seems to be a growing interest in passing the costs along to the employer, both in terms of traditional health insurance and in workers? compensation.

A recent article from the Insurance Journal discusses the rising costs of a surcharge assessment on workers? compensation premiums. The article states that the assessments are basically a tax on workers? compensation premiums and that they will place an additional burden on employers in the State of New York.

The second article states that the State of Massachusetts has been asked to increase workers? compensation rates by nearly 20 percent.

In addition to the issue of health care reform that is likely to permeate the Presidential election, the economy will also be scrutinized. As the economy begins its? slow recovery, the additional costs will likely have a negative impact.

Although it is not realistic to think that we can reduce health care costs, it is realistic to think that we can reduce some of the waste and abuse.

There is an interesting discussion about the impact of Obamacare on the Property Casualty 360 website. I?d be interested to hear your thoughts.

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Source: http://cidreview.cidmcorp.com/1027/workers-compensation-rates-on-the-rise/

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