Workers Comp Free Market System Is Best
One big advantage of the free market system for Workers Comp is the experience level of the providers.
The following comment is from a recent meeting sponsored by the state of North Dakota on looking into switching from a monopolistic state fund. I did find it interesting that the comment inferred that the injured employees receive better medical treatment with private insurers.
Deputy West Virginia insurance commissioner Bill Kenny says private insurers have broader experience in workers` comp. He says they are re often willing to spend more on advanced medical treatment to help get an injured employee back to work more quickly.
This is a stark assessment of the positive nature of a when many competitors may bring about a great improvement in the ancillary services provided in such a system.
A free market system usually works in almost any market. North Dakota would serve its citizens well to convert the WSI to a private carrier and then let them compete with other carriers. The process has worked in other states. Let us see if North Dakota will become a Workers Compensation free market system.