Newly re-elected state assemblyman Bob Blumenfield reported in his newsletter this morning:
One of the legislature’s biggest accomplishments of 2012 was the passage of sweeping reforms of the state worker’s compensation system. These landmark reforms will reduce costs to businesses, and protect workers by cutting out hundreds of millions of dollars in waste from the system.
The reforms reverse a four-year trend of rate increases on employers in their worker’s compensation premiums. Without reform, rates would continue to escalate, meaning higher costs for businesses and smaller payments for injured workers.
For injured workers, the reforms will bring an increase in permanent disability benefits, as well as with faster payment of awards, faster, higher-quality medical treatment, improved job retraining and increased awards for those with career-ending injuries.
Most companies on the state’s system would have gotten written notice of this win-win legislation by now, but just in case you weren’t reading your mail, and since it’s now time to be preparing your budget for 2013, we thought you’d like to know.
As always, I welcome your comments and feedback.