Texas Examines Max Income Benefits Trends

The Texas Department of Insurance’s Workers’ Compensation Research and Evaluation Group has released a new report on income benefits in the state’s system, analyzing income replacement rates and characteristics of injured employees who received the maximum amount of income benefits.
The report comes in the wake of recent reductions in medical costs and improvement in the state’s injured employee return-to-work rates, including high-wage earners who receive the maximum compensation rate.
Workers’ compensation income benefits are not taxable, so to adequately measure current statutory compensation rates, the amount of workers’
compensation income benefits received must be compared to an injured employee’s after-tax earnings.
New tax regulations went into effect in 2018, increasing after-tax earnings for employees. As a result, data shows decreases around 2018, before returning to pre-2018 levels.
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The Ohio Bureau of Workers’ Compensation has launched a program that offers incentives and financial assistance to help employers support workers who are recovering from a substance use disorder.
The Substance Use Prevention and Recovery Program, formerly known as the Drug-Free Safety Program, aims to help Ohio employers more effectively prevent on-the-job injuries and illnesses by integrating drug-free efforts into their overall workplace safety program, according to a WBC announcement.
The SUPR Program combines parts of WBC’s previous substance misuse-related grants and programs to “make it easier” for employers to enroll and receive reimbursements.
“Combining the key pieces of our previous programs into one creates a better and more efficient experience for our customers,” BWC CEO/Administrator Stephanie McCloud said in the announcement.
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New York’s Workers’ Compensation Bureau has added dates thru the end of the year for several of its advocate educational webinars.
Four sessions of the WCB’s “Workers Comp 101 with the Advocate for Injured Workers” will each cover the basics of the workers’ compensation system, including employee rights if they become injured or ill on the job.
Sessions of “Workers’ Comp 202: Best Practices to Access Benefits for Workers” provides a deeper dive into best practices workers can use to access their WC benefits.
Business owners the target audience for the webinar “Protecting Yourself and Your Team: Coverage Essentials for Businesses”, which reviews the basics of the WC system, along with considerations when hiring independent contractors, laborers, and domestic workers, lowering premiums, penalties and where to go for assistance with them.
All of the webinars are offered free of charge and will carve out time for Q&A. Prior registration is required.
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Regional workers’ comp insurer Stonetrust has been upgrade to an “A” rating by AM Best, based on the Baton Rouge-based firm’s balance sheet strength, and operating performance.
The upgrade comes as the firm is set to expand its coverage area into North and South Carolina by year-end.
Stonetrust offers workers’ compensation coverage and services to more than 5,000 policyholders in Louisiana and 12 other states.
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