Workers’ compensation reform serves insurance company interests
Two reports recently published by NPR and the Department of Labor’s Occupational Safety and Health Administration revealed that on a nationwide scale, insurance companies are the ones earning money whenever workers’ compensation reforms are instituted, the Chicago Sun Times reported on March 10.
In fact, after recent reforms implemented in Illinois, earnings of insurance companies have increased by 18% compared to their profits two years ago, while middle- and lower-income families have taken the brunt of the expenses.
Another study by the Oregon Department of Consumer and Business Services showed that Illinois did receive a 24% reduction in workers’ comp rates from 2012 to 2014 – the most significant drop in workers’ compensation rates in the United States.
However, the report stated, employers failed to see an equivalent reduction in their premiums.
The attorneys at Spiros Law, P.C., in the Champaign-Urbana areas of Illinois provide legal services to clients who want to file for or appeal claims for workers’ compensation benefits. Call our offices today at (217) 328-2828 to begin taking action.