Now that Illinois’ contentious primaries are over, state lawmakers have an opportunity to get back to business and tackle the litany of financial woes affecting the state. This year, Illinois ranked dead last on U.S. News & World Report’s list of the most fiscally stable states.
Despite this ranking, some Illinois legislators continue to push bills that add undue stress to the state’s business community. One key example is the push to put the state in the business of insurance. Specifically, both the House and Senate are considering bills that would establish the Illinois Employers Mutual Insurance Company (IEMIC), a workers’ compensation insurance company funded by taxpayers and managed by the Illinois government.
Now, though the marketplace is vibrant, it is fair to say that there can be improvement to the current system, especially with respect to increasing the potential for lower costs. But unlike proposals such as HB 4595 and SB 2973, very few people are talking about the three reforms that would actually make a difference.
This article was first published by WorkersCompensation.com.