As word of Michigan’s big savings in workers’ compensation premiums continues to spread, locals are asking more questions about where those savings are coming from. Everyone from local economic groups to the governor are touting the savings as great for all involved from employers to employees.
The effect on these two groups, however, are generally divergent. The less employers have to pay for insurance premiums, including those for workers’ compensation coverage, means less expenses and a higher profit margin.
This scenario is not necessarily bad for employees. If the employer pumps those savings back into higher wages and/or more benefits then the employees gain as well. Unfortunately, not every company utilizes such saving for the benefit of employees.
In the meantime, recent reports suggest the cost savings for workers’ compensation are coming at the expense of genuinely injured employees whose claims are being denied. We often take for granted than medical expenses and lost wages will be covered in the event we get injured at work. In reality though, there are a number of qualifying factors one must satisfy before those benefits get paid. And, to at least some extent, those lower premiums are the result of people being denied benefits.
Local workers’ comp lawyers in the Saginaw area will not accept such results. These experts fight vigorously for the benefits their clients are legally entitled to. If you find your claim languishing or being denied by your provider, make sure you contact one of these skilled professionals for a review of your personal case.
Source: Michigan Live, “Workers’ comp premiums drop 28 percent, but some say at a cost to those injured,” Emily Lawler, Oct. 16, 2014