Workers’ compensation costs to rise by 300%?

What do Trump polices mean for the future of workers’ compensation in the United States and is federal oversight with minimum standards needed?

Insurance Journal published a fascinating article about Trump policies and workers’ compensation. Dr. Richard Victor, senior fellow with the Sedgwick Institute, was interviewed and offered a dire prediction for workers’ compensation systems in the next decade.

It is believed that external forces could double the number of cases and increase costs by 300%. Ageing population, labor shortages with relaxed hiring standards, and loss of access to health insurance are big concerns.

Immigration reform and weakening of the Affordable Care Act are just some of Trump’s polices that could have a big impact. It is feared that state governments would become paralyzed because of the politics involved in these hot button issues.

We found this article fascinating because it shows how the 100-year-old workers’ compensation safety net is being put in jeopardy. Disabled workers are already seeing their benefits slashed across the country. It also shows why federal oversight and minimum standards are needed to ensure people hurt on-the-job are protected.

Michigan Workers Comp Lawyers never charges a fee to evaluate a potential case. Our law firm has represented injured and disabled workers exclusively for more than 35 years. Call (844) 201-9497 for a free consultation today.

Related information:

Minimum standards recommended for workers’ compensation

Photo courtesy of Creative Commons, by AK Rockefeller.

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