Magnifying Glass
Back to Sponsored Content

Delaware Small Business Says Workers Comp Increase Too High

10 Jan, 2013 WorkersCompensation.com

                               

Dover, DE (WorkersCompensation.com) - The state's leading small business advocate today credited Insurance Commissioner Karen Weldon Stewart for having mitigated the impact of a hike in the rates paid by employers for Workers Compensation. But a double-digit increase still hits hard, the group said, and Lawmakers and the Governor should work on reforms to reduce the overall cost of the system.

 
“Small business was staring at a 43-percent increase and the Commissioner deserves credit for paring that back,” said Ellen Valentino, Delaware State Director for the National Federation of Independent Business (NFIB). “But the rates are still going up by nearly 20 percent for a lot of small businesses and in this economy that's a jarring blow.”
 
Workers Compensation is the state-run insurance system that compensates employees who are temporarily disabled by injuries. Employers pay taxes for each of their workers to finance the benefits. A state board recently proposed a rate increase of 43.5 percent for the residual market and an increase of 38.3 percent for the voluntary loss market. After a comprehensive review, Commissioner Stewart approved increases of 19 percent and 14.6 percent, respectively.
 
“She softened the impact, but it's still a double-digit increase. That's a heavy blow for small businesses in Delaware,” said Valentino.
 
Valentino said lawmakers should consider ways to contain costs, such as a requirement that beneficiaries get generic drugs when appropriate instead of the top-shelf, highly expensive brand names. Legal reforms to cut down on workers comp-related lawsuits would also go a long way to reducing the burden on employers.
 
“We have to strike a balance that protects workers who have legitimate claims but which also doesn't force small businesses to finance the inefficiencies in the system,” she said.
 
For more information about NFIB, please visit www.nfib.com.
 

    • Read Also

    MedRisk Announces Sri Sridharan as CEO

    King of Prussia, Pa. (September 19, 2023) – MedRisk, the leader in managed physical rehabilitation in workers’ compensation, today announced the appointment of its President Sri Sridharan to Chief Executive Officer, effective immediately. As CEO, Mr. Sridharan will […]
    WorkCompCollege.com Launches Unique State-Specific Training Program for Workers’ Compensation Stakeholders 

    September 18, 2023  Lakewood Ranch, FL – WorkCompCollege.com, a division of Workers’ Compensation Educational Services, LLC, announced the launch of an innovative series of training modules covering the unique aspects of each workers’ compensation jurisdiction […]
    Empatha CEO Darrell Bruga to Discuss Overcoming Work Disability at National Comp Conference

    Las Vegas, NEV (September 7, 2023) – Since the pandemic, employers and workers’ compensation carriers have been refining their claims strategies to address the historic increase in anxiety, depression and substance abuse. “We have looked at […]

    About The Author

    • WorkersCompensation.com

    More by This Author

    ReEmployAbility Announces Free Webinar: ‘Overcoming Jurisdictional Return-to-Work Challenges’

    ReEmployAbility, Inc.Contact: Rebecca Dearth(813) 261-3117 | news@reemployability.com Brandon, FL (May 10, 2023)- ReEmployAbility CEO and Founder Debra Livingston will be hosting a second free, live Work Comp Central webinar in their continued series to educate […]
    NCCI Annual Golf Event Tees Up $25,000 for Kids’ Chance of America

    (Orlando, FL–May 10, 2023)—The National Council on Compensation Insurance (NCCI) has given $25,000 to Kids’ Chance of America, supporting college scholarships for the children of injured workers. NCCI made the donation in conjunction with its Annual […]
    What Makes a CMS Appeal Successful?

    In response to a Medicare conditional payment demand, payers can access a five-level appeals process, including a hearing before a Centers for Medicaid and Medicaid Services (CMS) administrative law judge (ALJ). Most conditional payment demand […]

    Read More

    MedRisk Announces Sri Sridharan as CEO

    King of Prussia, Pa. (September 19, 2023) – MedRisk, the leader in managed physical rehabilitation in workers’ compensation, today announced the appointment of its President Sri Sridharan to Chief Executive Officer, effective immediately. As CEO, Mr. Sridharan will […]
    WorkCompCollege.com Launches Unique State-Specific Training Program for Workers’ Compensation Stakeholders 

    September 18, 2023  Lakewood Ranch, FL – WorkCompCollege.com, a division of Workers’ Compensation Educational Services, LLC, announced the launch of an innovative series of training modules covering the unique aspects of each workers’ compensation jurisdiction […]
    Empatha CEO Darrell Bruga to Discuss Overcoming Work Disability at National Comp Conference

    Las Vegas, NEV (September 7, 2023) – Since the pandemic, employers and workers’ compensation carriers have been refining their claims strategies to address the historic increase in anxiety, depression and substance abuse. “We have looked at […]
    ReEmployAbility Sponsors The Spring of Tampa Bay’s 33rd Annual Gift of Peace Luncheon

    Brandon, FL (September 6th, 2023)- ReEmployAbility is happy to announce its sponsorship of The Spring of Tampa Bay’s Gift of Peace Luncheon. ReEmployAbility’s CEO and founder is a proud board member for the Spring of […]
    Ametros Strengthens its C-Suite with Two Promotions

    Wilmington, Mass. (September 5, 2023) — Ametros, which helps people manage their medical funds following workers’ compensation or liability settlements, has expanded its C-Suite with the promotions of two accomplished executives. As of September 1, Andrea […]
    NCCI Marks 100 Years of Serving the Workers Compensation System

    August 31, 2023 (BOCA RATON, FL)—The National Council on Compensation Insurance (NCCI) celebrated 100 years of service to the workers compensation (WC) system with an event honoring its employees and a century of service to […]

    Request a Demo

    To request a free demo of one of our products, please fill in this form. Our sales team will get back to you shortly.