The Alliance of American Insurers (AAI) said it is pleased with today’s passage of a workers’ compensation reform bill by the Florida House.
“The bill, HB 1837, is an outstanding work product that will result in substantial cost savings because it contains substantially all of the reform elements recommended by the Coalition of Business and Insurance Industry, of which the Alliance is a major participant,” William Stander, government affairs representative for the Alliance’s Southeast Region, commented. “It is now up to the Florida Senate to take up this legislation and enact it before the session ends May 2.”
NCCI reportedly estimates that the bill will decrease costs by 14.2 percent, equaling a $425 million savings in system costs, plus an additional 4 percent or more savings attributable to the contractor exemptions.
Reform elements recommended by the Coalition were:
·Limits on hourly attorney fees to medical-only cases;
·Reductions of hospital fee schedules;
·Increased fraud penalties;
·Further restrictions on exemptions from workers’ compensation coverage; and
Elimination of other inappropriate cost increase provisions.
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