Despite the fact that Illinois currently has over 300 entities already providing workers’ compensation policies in our state, House Democrats pushed through a terrible bill last week that would put the State of Illinois in the workers’ compensation insurance businesses. HB 2622 would also put the taxpayers of Illinois on the hook for a $10 million loan for the creation of the new workers’ compensation insurance company.
The bill sponsor presented no business plan and no information for how they would seek paying clients, yet lawmakers were asked to blindly support the measure. Real workers’ compensation reform is needed in our state to curb fraud and abuse of the system. Illinois employers pay $2.23 per $100 of payroll, making us the most expensive state in the Midwest for worker’s compensation costs.