Posts
5092
Joined
4/1/2008
Location
Fayetteville, GA, USA
Workers Comp Insurance
Upgrade to enjoy this feature!
Vital MX fantasy is free to play, but Premium users receive great benefits. Premium benefits include:
- View and download rider stats
- Pick trends
- Create a private league
- And more!
Only $10 for all 2026 SX, MX, and SMX series.
Irresponsible companies shouldn't be able to bury their exposure in the general health fund.
where did you get irresponsible from?
Unfortunately, irresponsible emplyers of the past have created a situation where it is now mandatory that you carry coverage. If you aren't an irresponsible employer...your experience rating goes down and you pay much lower premiums...that's how it should work. I am not sure we could trust most employers to do the right thing and pay for these situations if it weren't mandatory. The premium amount is usually regulated by the state so I am pretty sure the insurance companies can't just come in and charge what they want. Finally, the current process keeps a lot of this stuff out of court.
All of this is working to a degree and doesn't need to muddy up managed care.
Not sure what the lawyer comment has to do with anything but yeah, there are lots of people well versed and highly experienced in this area...some of them lawyers.
The Shop
DeCal Works Huge Plastic Inventory of UFO and Polisport kits.
Luxon 4-Post Bar Mounts
$189.95 - $239.95
I have one driver based in Alabama and the rates there are 50% higher than Ga. Alabama has one of the highest jury settlement rates in the country so I am guessing that has something to do with it.
OK that was a pretty good answer.
Are you basing the payouts and costs of WC on data that you have knowledge of? I am just asking to better understand not to argue or antagonize.
One thing that I have seen is that when my employees are covered by health care my WC claims go down. My business does not get hit with the guy who tore up his knee playing basketball over the weekend.
The other issue is because of the amount of fraud that takes place in WC cases it means that when an employee is hurt on the job the disability pay out for missed work is ridiculously low. No way a guy can keep up with his bills if he is out for 2 or 3 months with a broken leg.
Even claims that we proved were fabricated got paid, and our rates got jacked up.
Explain how this is right:
We had a job in the boonies of northern Colorado. The nearest civilization was Laramie Wyoming, and it was dirt roads most of the way.
We purchased a Baja Bug for our crew to use for grocery runs.
One day after work, three crew members asked their foreman if they could use the car to go in to town.
They had been drinking, so he told them they couldn't.
When the foreman got in the shower, the three guys took the car anyway.
They went to Laramie, drank some more, and totaled the Bug on the way back.
None of them was seriously injured, but one guy claimed nerve damage and is still collecting workers comp ten years later.
How in the hell can my company be held liable, when these guys STOLE the car, drove it DRUNK, and (did I mention) DISAPPEARED for two days after the crash?
I don't get it.
Obviously my opinions don't equate to facts...but I really see a benefit in keeping the monetary penalty (for lack of a better word) associated with individual employers. It does provide VERY strong incentive to run a safe work place and provide necessary training to employees. When a company is unfortunate enough to have a big case...they just aren't allowed to forget it.
While there is some profit in this area of coverage (if there wasn't...nobody would provide it)...I don't see it contributing an actual savings to the health system. I can see where employers would get much more sloppy if it were rolled into the giant govt slush fund. Additionally, most WC providers will take a great interest in your safety program and provide consultation at no charge to you because they don't make any money if they pay out a lot of claims and make multi-million dollar settlements. Obviously it isn't perfect and not everyone gets the same bang for their buck but this is most beneficial to larger manufacturers and those that deal with particularly hazardous jobs/materials because there is so much overlap with OSHA. I don't think you would get this level of service from the Feds.
My Fudiciary Responsibilities(To myself & my employees) tell the tale: How much could I be saving (ALL THOSE INOVLVED!) if I move about 200 miles South-East of here to the Carson-Valley area?
Of-course, I would have to live in the Tahoe Basin in order to achieve more "Testing"...
I'm jus' sayin'...
Same deal with WC. It protects workers and their families from reckless endangerment from their employer, by requiring them to be insured in case of an accident.
If you think we can do without it, then have a look at how well self-regulation worked on wall street.
I like all employers would still have to negotiate rates based on my companies losses and saftey programs every year.
One other point that you mentioned and it is a good one is that WC is regulated by the state while Health Ins. rates are not (at least in Ga.). Why should Health Ins. companies get a by on this when no others do? One other question is why is my post showing up under my sons login and not mine?
Larry
I like all employers would still have to negotiate rates based on my companies losses and saftey programs every year.
One other point that you mentioned and it is a good one is that WC is regulated by the state while Health Ins. rates are not (at least in Ga.). Why should Health Ins. companies get a by on this when no others do? One other question is why is my post showing up under my sons login and not mine?
WC Ins. is a cost of labor and our employees share this cost (along with our customers) with us.
If one of my drivers falls off of a loading dock and breaks his leg my WC is first in line and Ga. state law prevents him from sueing my customer. That is fair in my view and I would not change that.
My question is, would universal health care in the US apply any downward pressure on WC rates? If so that could help pay for it in part at least W/O putting any additional pressure on the US economy.
The state of Georgia does a decent job of regulating the Insurance that they are allowed to regulate.
I and my fellow citizens can have more influence on a state level, a state can be much more in tune to what is best for its citizens than a federal Gov. can.
But the health Ins. lobbist are powerfull here in Ga. If the
feds made it law that I could buy my Ins. from any company in any state then I would get a much better product for my money.
And in the end the employee is still getting screwed, much more so by his lawyer than by his employer.
Post a reply to: Workers Comp Insurance