Florida jobs go where the business climate is best, and Florida needs an intense focus on improving our business climate. That means ensuring workers’ compensation premiums are fair.
For several years, the Florida Chamber of Commerce has been the state of Florida’s leader on workers’ compensation reform. The Florida Chamber supports policies that ensure workers’ compensation premiums are fair and not inflated by unnecessary costs.
A Florida Chamber-backed bill that eliminated burdensome and unnecessary costs with regard to workers’ comp rates successfully passed during the 2010 Legislative Session. While lawmakers unanimously passed HB 5603, it was vetoed by then-Governor Charlie Crist. Now Florida Insurance Commissioner Kevin McCarty has approved a proposed 8.9 percent increase on workers’ compensation premiums scheduled to begin January 1, 2012.
The intention of Florida’s mandatory workers’ compensation system is to protect employees who suffer injuries at work. It is being undermined and ignored by physicians who dispense repackaged drugs and are charging employers significantly inflated prices that exceed the statutory reimbursement for pharmaceuticals.
Rep. Hudson and Sen. Hays are keenly aware of the negative impact skyrocketing workers’ comp rates have on businesses, and that is why they are sponsoring HB 511 and SB 668. If passed, the bills would close the expensive repackaged drug loophole and workers’ comp rates would see a near-immediate 2.5% rate reduction – a $62 million savings for Florida’s business community.
Workers’ Compensation Reform (SB 668/HB 511)
The Florida Senate’s refusal to allow an important workers’ compensation reform bill to be heard by the full Senate will result in a $62 million workers’ comp rate increase for Florida businesses. This increase, which equates to 8.9 percent on average, is directly attributable to the inflated cost of some repackaged prescription drugs being dispensed on-site when a workers’ comp patient seeks medical treatment.
The Florida Chamber led the business community’s efforts to close the loophole for workers’ comp reimbursement rates for repackaged drugs. A very special thank you is extended to Sen. Alan Hays (R-Umatilla) for his relentless efforts to ensure his colleagues had an opportunity to hear the bill, and to Rep. Matt Hudson (R-Naples) for sponsoring the House bill. Additionally, the Florida Chamber thanks Rep. Mack Bernard (D-West Palm Beach) for amending the workers’ comp reform language onto his bill, HB 307, on the 59th day of the 60 day legislative session. In the end, the Florida Senate refused to allow a vote and killed the bill.
Late last evening, around 10:30 p.m., thanks to the strong leadership of House Speaker Dean Cannon (R-Winter Park) and the wisdom of Representative Mack Bernard (D-West Palm Beach), a bipartisan solution to immediately lowering your workers compensation premiums by an average of 2.5% passed the full House and is now waiting in the Senate for [...]
The Florida House of Representatives is poised to take up important workers’ compensation reform legislation, but the Florida Senate is stalling. Given that workers’ comp rates are going up 8.9% on average this year, now is not the time to put the brakes on legislation that could save Florida’s business community $62 million and roll [...]
Jim Turner’s BLOG The Florida Chamber of Commerce released the following statement after the House Economic Affairs Committee backed HB 511, sponsored by Rep. Matt Hudson, R-Naples, that would limit the amount doctors can charge their workers’ comp patients for dispensing prescription drugs from their office. “Closing the repackaged-drug loophole will immediately eliminate a key [...]
