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| | Maine’s Governor Announces Workers’ Compensation Rates To Fall By 7.7 percent. By Lonce LaMon - February 10, 2014
The state of Maine has announced that its workers’ compensation rates will decrease by 7.7 percent.
Maine’s governor, Paul R. LePage, announced the decrease which will save Maine employers over 15 million dollars in the coming year. This positive and surprising new development is because the average medical costs per case are down. According to Governor LePage, Maine’s claim frequencies are relatively flat, the lost time is stable, but it’s the average medical costs that are down and are the responsible factor for the lowering of cost.
"There has been a concerted effort in the state to improve safety in the workplace, promptly return injured workers to employment as soon as possible, and control medical costs," he said.
Maine and New Hampshire are the only two states in the Northeast getting reductions with Maine’s decrease as the largest. It’s the largest decrease since 1998.
The National Council on Compensation Insurance (NCCI) evaluated Maine’s workers’ compensation system and recommended the premium reduction of 7.7 percent. NCCI sent the recommendation in a February 5th letter to Eric Cioppa, the Maine Superintendent of Insurance. In its Annual Report on the Status of the Maine Workers’ Compensation System, the Workers’ Compensation Board noted that the workers’ compensation system in Maine has transitioned from one of the most expensive in the nation to one that is moving to a level of average costs for both premiums and benefits.
“I am pleased with the NCCI voluntary market recommendation,” said Paul Sighinolfi, executive director and chairman of the Workers’ Compensation Board. “Their analysis of the Maine workers’ compensation market is consistent with—or perhaps even better than –my impression. All stakeholders within our system should be pleased with this recommendation because it is a combined effort of both the management and labor communities to reduce injuries and control costs that led to the recommended reduction in premium.”
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