Call Us 972-234-5588 ☰ ˟
Logo
Call Us: 972-234-5588
CallCall CallText Social Social Social Social Social
  • Home
  • About Us
    • Our History
    • Our Staff
    • Our Specialities
    • Testimonials
  • Products
    • Personal Lines
    • Commercial Lines
    • Industry Solutions
  • Get a Quote
    • Auto / Motorcycle / RV
    • Homeowners Insurance Quote
    • General Liability Quote
    • Workers Compensation Quote
    • Commercial Auto Insurance Quote
    • BOP Quote Form
    • Bond Request Form
    • Builders Risk Insurance Quote
    • Professional Liability Insurance Quote
    • Cyber Insurance
  • Customer Service
    • Report a Claim
    • Changes to Your Policy
    • Request a Certificate
  • Our Companies
  • Payments/Claims
  • Insurance Tips
    • Tips Blog
    • Builders Risk FAQ
    • Glossary
  • Contact Us
    • Contact Us
    • Our Location
    • Refer a Friend
    • Join our Newsletter
Business Icon

Business

We browse through a wide variety of coverages and find the right one for you.

Learn More
Contractors Icon

Contractors

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home Icon

Home

We browse through a wide variety of coverages and find the right one for you.

Learn More
Auto Icon

Auto

We browse through a wide variety of coverages and find the right one for you.

Learn More
Life Icon

Life

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home > Blog > Five Ways Workers' Compensation Will Change Beyond 2016
MONDAY, DECEMBER 19, 2016

Five Ways Workers' Compensation Will Change Beyond 2016

Injured workerThe rise of medical costs, ever-increasing employer responsibility and a slew of modern workforce issues have made workers’ compensation insurance a tough subject to discuss.

Work-related injury costs are changing. Yet, the actual number of injuries is decreasing. Some experts might consider workers’ compensation insurance to be in a shrinking market. However, new forecasts depict new demand.

Check out the five biggest shifts occurring in today’s workers’ compensation world. Find out where the profitable line of coverage is.

1: Bigger is Better

The emerging Clinical Mergers and Acquisitions arms race is getting faster. Now, hospitals are purchasing smaller hospitals along with their specialty medical practices. Essentially, they’re buying market shares to improve their negotiating power with their group health insurer’s community.

Health insurers are similarly following the bigger is better mantra and prioritizing negotiation. Medical benefits are taking on the same competitive roll in the workers’ compensation world. That is, they are experiencing higher costs.

2: Federalization

In many ways, the government already offers and promotes workers’ compensation insurance. The Occupational Health and Safety Administration, for example, has impacted workers’ compensation benefits.

However, workers who are disabled and pushed from workers’ compensation to Social Security disability are pushing for more government involvement. Some lawmakers are expected to be more receptive to the discussion because Social Security has solvency concerns.

3: Identified Holes

Court cases have arisen from business insurance’s failure to offer benefits for individuals suffering from occupational diseases. These diseases are regularly barred by statutes of limitations because they take years to develop. Now, experts are working on recourses for benefits.

4: More Group Health

The employee’s health model is changing, and employers are creating group models crafted to provide quality care, consistency and longevity. Accountable Care Organizations (ACOs) are likely to enter health plans quickly after 2016. ACOs are an attractive choice for employers needing healthier workforces by extending to remote work cultures, too.

5: A Real-Time Claims Model

In 2017, we can expect to see an emerging trend based upon modern technology. Soon, injured workers will utilize smart phone service instead of phone support. Claims will be accessed via mobile apps. New technology could rewrite the way employers handle business insurance claims.

The world of workers’ compensation insurance is constantly changing, but you shouldn’t remain behind the curve. Talk to your provider today, discuss future options and take advantage of industry changes. We are proud to offer you resources and advice when buying workers’ compensation insurance.


Ready for a Quote? Contact Us Now

Posted 5:01 PM

Tags: insurance, workers compensation, work injury, the future,
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013

  • insurance(79)
  • dallas(68)
  • texas(45)
  • commercial insurance(26)
  • business owners(22)
  • commercial auto insurance(13)
  • business insurance(12)
  • contractors(12)
  • general liability insurance(10)
  • builders risk insurance(10)
  • business owners policy(9)
  • jim porter(9)
  • insurance tips(8)
  • surety bonds(7)
  • workers compensation(7)
  • bop(7)
  • workers compensation insurance(6)
  • coverage(6)
  • bonds(6)
  • business(6)
  • umbrella insurance(5)
  • fort worth(5)
  • home insurance(5)
  • homeowners(4)
  • contractors insurance(4)
  • professional liability insurance(4)
  • commercial(4)
  • policy(3)
  • directors and officers insurance(3)
  • homeowners insurance(3)
  • e and o insurance(3)
  • liability insurance(3)
  • car insurance(3)
  • workers(2)
  • liability(2)
  • auto insurance(2)
  • risk(2)
  • cyber liability insurance(2)
  • owners(2)
  • construction(2)
  • plano(2)
  • compensation(2)
  • personal insurance(2)
  • independent insurance agent(2)
  • inclement weather(2)
  • water damage(2)
  • claims(2)
  • auto(2)
  • d&o insurance(2)
  • safety features(2)

View Mobile Version

Contact Us Today!
972-234-5588

Social Social Social Social Social

Resources

  • Products
  • Customer Service
  • Payment Options
  • Report a Claim
  • News
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Contact Us

12160 Abrams Rd, #107
Dallas, TX 75243

Local: 972.234.5588 | Toll Free: 888.246.9291 | F: 972.234.5311
© Copyright. All rights reserved. | Powered by Insurance Website Builder