Feb
28

New York’s Workers Comp reform

It looks like NY Gov. Eliot Spitzer (D) has done in two months what his predecessor couldn’t do in two terms – reform the New York workers comp system. If early reports bear out, this will be a huge win for injured workers, employers, insurers, and managed care firms.
That could be a rather significant “if”… but the inclusion of labor, business, and members of the opposition party in the reform process make it highly likely the package will pass.

Continue reading New York’s Workers Comp reform


Feb
22

Now it’s not so funny

The investment debacle at the Ohio Bureau of Workers Comp has resulted in jail terms, millions of dollars in losses, criminal indictments, public pillorying of politicians, and a change in the Governor’s office.
As if that wasn’t enough, Moody’s now informs us that the $300 million in losses will affect the state’s economic outlook. The big investment firm downgraded Ohio’s economic outlook to negative from stable.
The downgrade may result in higher interest rates, raising the state’s cost of borrowing for public works projects. And all because a few political hacks took advantage of their connections.


Feb
20

A new opportunity in West Virginia

Jon Coppelman at Workers Comp Insider has written a thoughtful and incisive piece on the new WC market in West Virginia. The state had been (actually, until the middle of this year it still is) a monopolisitic state – employers had to buy their WC insurance from the state.
That’s changing to an open competitive market. The state WC fund, now known as Brickstreet, is going to be the largest carrier in WV for some time, but will inevitably lose market share as competition enters. Jon points out that managing that transition, while adequately serving the needs of existing policyholders, is going to be an incredibly complex and difficult job. Their customer base will shrink, making one of the first tasks of Brickstreet’s execs the management of staff reduction. While building a new agent service infrastructure, upgrading systems, and figuring out how to effectively compete – something they never had to worry about before.
Yikes.


Feb
19

Actiq – the off-label poster child

Actiq is a narcotic taken in lollypop form, a technique that gets the drug to the pain centers quickly. Developed for break-through cancer pain, evidence now suggests that only 10% of Actiq users have cancer.The high-powered narcotic has been the subject of several recent reports and a state attorney general investigation concerning off-label use.

Continue reading Actiq – the off-label poster child


Feb
15

Spitzer’s take on work comp reform

If anyone can get workers comp reform addressed in New York, it’s new Goc. Eliot Spitzer (D). In a wide-ranging interview conducted yesterday by the Journal-News, Spitzer noted that work comp reform is at or near the top of his list of priorities.
Likely changes will include a cap on the duration of benefits for injured workers.