December 5, 2017

A.M. BestTV: State Compensation Funds Worry About Impact of Opioids

Oldwick, NJ -(BusinessWire)- A recent episode of A.M. BestTV examines the hot issue of opioids and their negative impact on workers’ compensation costs at the American Association of State Compensation Insurance Funds Conference, which took place in Washington, D.C. At the conference, leaders of state workers’ compensation funds said that the growth in highly addictive pain medications being prescribed is driving up costs and reducing the likelihood that many will be able to return to the workforce.

Thomas Phelan, president and chief executive office at Chesapeake Employers’ Insurance Company, said that “these opioids were supposed to be for people with severe terminal illnesses, but somehow now have become mainstream and are being prescribed for back pain, knee injuries, etc.” The attendees also heard that the cost has become out of control as the abuse has reached epidemic levels.

Other people who appear in this episode include:

  • Laurence Hubbard, President & CEO, Montana State Fund; and
  • Kristin Wall, President and Chief Executive Officer, Louisiana Workers’ Compensation Corporation

Click here to view the video program: http://www.ambest.com/v.asp?v=aascif814.

Source: BusinessWire

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