Health Care Reform’s Potential Impact to Pose Challenges for Workers Comp, Medical Liability Insurers

Health Care Reform’s Potential Impact to Pose Challenges for Workers Comp, Medical Liability Insurers

While it's still too early to quantify the exact impact of health care reform, implementation of the measure enacted last year will bring short- and long-term challenges to employers and the property/casualty insurance industry, attendees at the Casualty Actuarial Society's annual Ratemaking and Product Management Seminar were told. Harry Shuford, chief economist for the National Council on Compensation Insurance, described the new law as "a totally new health care system that appears to have material implications for the future of health care delivery in the U.S." Workers compensation insurance shares a lot in common with the country's health care system, the NCCI economist said, because medical claims are such a big part of workers compensation costs. Read more at the Casualty Actuarial Society.