Today’s issue of WorkCompRecap features the recent statement from PCI that the Illinois state Legislature recently passed legislation HB 2525, which addresses workers’ comp rate regulation and makes other changes, and HB 2622, which would loan funds from the Illinois Workers’ Compensation Commission Operations Fund for the start-up and initial capitalization of the Illinois Employers Mutual Insurance Company (State Fund) as a nonprofit, quasi-independent public corporation.
PCI’s Jeffrey Junkas elaborated on the organizations perception of the measures, saying that they could have profound negative consequences for injured workers, the business community and all consumers in the state. PCI also claimed that the bills would do nothing to control costs, or assist injured workers with addiction to overprescribed, expensive drugs. Finally the organization noted that the formation of a new State Fund was largely unnecessary, as Illinois already has a very competitive workers compensation market with over 300 companies offering coverage.
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