Premiums Down 63% Since 2005 Reforms, DWC Says

Legislative reforms enacted in 2005 to create a drug formulary and health care networks, and an emphasis on workplace safety, have dropped Texas workers’ compensation premiums by 63%, the Division of Workers’ Compensation says. The average premium per $100 of payroll has gone from $2.32 in 2003 to 86 cents in 2015, the National Council on Compensation Insurance reports. “With premium costs down more than 60%, more employers have opted to provide workers’ compensation insurance, which means financial resources are there for injured employees when they need help the...