SB-863 has a focus on effects of costly work-related accidents, injuries, Illness & death spending over 1 Billion per year on new claims alone. Employers pay approximately $1 billion per week for direct workers’ compensation costs alone. Extrapolating the historical rate of health care spending growth relative to GDP growth into the future, however, produces projections that are growing 5% faster than GDP over 10 years, spending on health care will consume virtually the entirety of the national income.
SB-863 has a focus on effects of costly work-related accidents, injuries, Illness & death spending over 1 Billion per year on new claims alone. Employers pay approximately $1 billion per week for direct workers’ compensation costs alone. Extrapolating the historical rate of health care spending growth relative to GDP growth into the future, however, produces projections that are growing 5% faster than GDP over 10 years, spending on health care will consume virtually the entirety of the national income.