Illinois and Missouri Eye Bills to Rein in high-deductible WC Policies

Two states are considering legislation to tighten the reins on high-deductible policies and clarify what happens when an insurer goes insolvent as a result – just as another workers’ compensation carrier faces financial uncertainty as a result of such a relationship. In Illinois, Senate Bill 1805 proposes to do something the Florida Workers’ Compensation Insurance Guaranty Association has been trying to push in its state for years: ramp up regulatory oversight of high-deductible policies. When clients take out policies with high deductibles, they typically put up collateral ...