Workers’ Comp Premiums Have Dropped in Texas
Workers' comp premium costs are down by about half in Texas. Photo courtesy flickr.com/photos/stevendepolo/Workers’ compensation premiums — the ones paid by employers — have dropped sharply in Texas.
The state Insurance Department says those rates have dropped by almost half in the last seven years.
Worker’s comp provides employees who are injured on the job with medical care and re-imbursement for lost wages. Steve Nichols with the Insurance Council of Texas, which represents insurance providers, says reforms passed in 2005 have worked.
“We’re seeing a system that’s performing better,” Nichols said. “Medical costs are down. There’s a lot fewer disputes. We’re seeing less health care services rendered per visit because of the treatment guidelines.”
Most workers in Texas are covered by workers’ comp programs, although employers are allowed to opt out and get insurance coverage on their own.
