I predicted this when I first heard about it in 2012.
Now, consider this. None of the employers who drank the Kool-Aid have workers compensation coverage. There is no ins company to pick up the claims costs. That means that each employer will be totally responsible for the claim costs. Now that the concept has been ruled unconstitutional, the carriers that issued policies for the covered injuries will probably cease any future payments. OUCH !!!
The attorneys, consultants and insurance agents that pushed this program better get ready for some interesting lawsuits. Most of which will not be covered by any malpractice or E&O.
As was shown in the previous article about the fall in claims costs, there was no need to take this risk. Since 2013, claims costs and thus premiums, have fallen 44%. Reform reward with no risk. That’s risk management.
The situation is not terribly dire. The affected employers have 90 days to get back into the WC system. That shouldn’t be a problem for larger multi-state employers that can simply add Oklahoma to their existing WC policies. Some of them may have been self-insured. I don’t know what will be required to resume self-insured status.
I don’t see how insurers can get out of paying opt out claims for losses that occurred before the act was declared unconstitutional.
The Opt Out provision was included in a rewrite of the Oklahoma WC Act in 2013. That revision changed the WC system from a court based system to an administrative system. It also reduced some benefits. Those are the primary reasons for lower claim costs.
But the employers that promoted the Opt Out option and the ones who later opted out wanted to save even more money. The foolish employers are the ones who opted out while the court challenge was underway.
Could someone lay this out for me a little? Please. I get 40 different stories and never a lick of advice and never an inkling of help. I was disabled from 3 very serious on the job accidents. The employer lied about how they happened it is an atrocity. I have out of pocket expense lots of it. I am forced into early retirement years early and forced into filing for disability which COULD BE PREVENTED if this employer would just quit being a coward and pay for my operation. it is his negligence that caused all this. Problem is he is a farmer with me as one employee and then 5 family members so how is he going to prove he is in compliance because he is darn sure not in compliance. He also has two other business’ that has employees.
I predicted this when I first heard about it in 2012.
Now, consider this. None of the employers who drank the Kool-Aid have workers compensation coverage. There is no ins company to pick up the claims costs. That means that each employer will be totally responsible for the claim costs. Now that the concept has been ruled unconstitutional, the carriers that issued policies for the covered injuries will probably cease any future payments. OUCH !!!
The attorneys, consultants and insurance agents that pushed this program better get ready for some interesting lawsuits. Most of which will not be covered by any malpractice or E&O.
As was shown in the previous article about the fall in claims costs, there was no need to take this risk. Since 2013, claims costs and thus premiums, have fallen 44%. Reform reward with no risk. That’s risk management.
The situation is not terribly dire. The affected employers have 90 days to get back into the WC system. That shouldn’t be a problem for larger multi-state employers that can simply add Oklahoma to their existing WC policies. Some of them may have been self-insured. I don’t know what will be required to resume self-insured status.
I don’t see how insurers can get out of paying opt out claims for losses that occurred before the act was declared unconstitutional.
The Opt Out provision was included in a rewrite of the Oklahoma WC Act in 2013. That revision changed the WC system from a court based system to an administrative system. It also reduced some benefits. Those are the primary reasons for lower claim costs.
But the employers that promoted the Opt Out option and the ones who later opted out wanted to save even more money. The foolish employers are the ones who opted out while the court challenge was underway.
Could someone lay this out for me a little? Please. I get 40 different stories and never a lick of advice and never an inkling of help. I was disabled from 3 very serious on the job accidents. The employer lied about how they happened it is an atrocity. I have out of pocket expense lots of it. I am forced into early retirement years early and forced into filing for disability which COULD BE PREVENTED if this employer would just quit being a coward and pay for my operation. it is his negligence that caused all this. Problem is he is a farmer with me as one employee and then 5 family members so how is he going to prove he is in compliance because he is darn sure not in compliance. He also has two other business’ that has employees.