A critical component of our national "safety net," the state-regulated workers' compensation system, is being besieged, another victim of politicians reaching everywhere to generate short-term benefits by increasing services without raising taxes.
In one case, the principle that "politics makes strange bedfellows" was confirmed again last week when Ohio officials announced they were planning through two steps to provide a $1.9 billion cash rebate to the state's employers by tapping the reserves of the state's actuarially-sound workers' compensation fund.
Although it wasn't stated that way, in effect Ohio Gov. John Kasich was borrowing a page from New York Gov. Andrew Cuomo new playbook, a playbook first written by Andrew's father, Mario.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.