I found this twitter post and it reminded me of the good old days. In the good old days, Indiana battled Virginia for the title of lowest cost of workers' compensation. I started my career in Indiana and thought we had a pretty good system.
In recent years I have talked with carriers about bringing their program into Indiana. In all cases I was met with resistance based on the low rates. I countered that we had a low benefit system. The Work Comp Wire article shows exactly the reasons they didn't want to come into the state.
With 8% growth per year, for five years, it is no wonder they were hesitant. Thankfully, the medical cost reforms of HEA 1320 will go into effect July 1st. It would be nice to get back to the good old days, where Indiana can offer low rates to employers, and carriers can make money at those rates.
As an individual employer, you can help in controlling medical costs by identifying a company doctor. In Indiana the employer has the choice of sending the injured employee to any doctor they want. The employee must pay their own costs to see their personal physician.
Healthcare and the costs associated continue to change and evolve. Our workers' compensation system and practices need to do the same unless we are comfortable with increasing rates.
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