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How Obamacare Could Ruin Your Workers Comp Program

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Your Workers Comp Program Can Be Ruined Very Easily

Does your Workers Comp program seem to be in ruins?  Obamacare could ruin your program if you are not careful.

One of the most obvious trends in the Workers Comp environment is that health insurance is trumping the attention paid to employers’ budgets. Who can really blame employers for hinging their decisions on the upcoming Supreme Court result?

Drawing Of HealthCare With Dollar Sign And Arrow Workers Comp Program Obamacare
(c) 123rf.com

The one under-the-radar concern that I have is Workers Comp has taken a back seat (or possibly in the trunk) to the health insurance discussions. With the changes occurring with Workers Comp E-Mods for 2013, 2014, 2015 and beyond, Workers Comp should very likely not be a forgotten matter.

Safe workplaces are going to reap the harvest in the next few years. Unsafe employers are basically going to pay the price over the next few years. In a way, they will be subsidizing the safe employers when compared to the present Workers Comp system.

For instance, one of our larger current clients is having a 300% increase due to a change in one of their classification codes by their current carrier. If there was too much attention paid to other areas (and we were not a consultant for them), this increase may have slid through unnoticed. The client was able to change most of their employees back to the original class code. They were very happy with the result.

There are many posts involving saving on your Workers Comp program in this blog. Feel free to use the search box on the right side of the page or look in the archives for articles.

Obamacare could ruin your Workers’ Comp program, but not if you pay attention to the changes in health and workers comp insurance.

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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