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Wednesday, November 9, 2011

Super Committee Ideas May Impact Workers Compensation in Super Ways

The "Super Committee" of the US Congress is mandated to set forth a proposal for debt reduction by November 30, 2012. Some of the proposals may impact the nations' workers' compensation in a big way. 

The proposals include extending premium raises for Parts B and D; changing the retirement age from 65 to 67; establishing a permanent "Doc Fix" and lower medical provider costs; lower the costs for durable goods and establish a cost limiting structure for prescription drugs. All of these suggested recommendations will potentially trigger changes in workers' compensation benefits and administrative procedures.

As more dollars are sought from entitlement programs to shore up the national debt, the integrated benefit program of workers' compensation will require modification as to the amount and duration of benefits as well as the cost.