The high costs associated with the Oklahoma workers’ compensation system have been cited as a problem doing business in the state, and many lawmakers are looking to remedy the situation. The Insurance Journal took an in-depth look at the rising workers’ compensation rates in Oklahoma and what is being done to curb the problem.
An Oregon Department of Consumer and Business Services study found that Oklahoma had the sixth highest rates in the nation. The Oklahoma Insurance Commissioner, John D. Doak, announced that current rates of $2.77 per $100 spent on an injury would be increasing next year.
To solve this growing problem, lawmakers recently proposed changes to the system that would mirror modification made in Texas that have effectively lowered rates while still providing quality coverage. The changes, under the Oklahoma Employee Injury Benefit Act, were not passed during the most recent legislative session, but the bill will be presented again during the next session.
The Oklahoma City Personal Injury Lawyers with J. Colbert Injury Lawyers say these rising costs and lack of a solution to the problem may make it more difficult than ever to have an injury claim approved. That is why our Oklahoma Workers’ Compensation Lawyers are here to help you if you are preparing to file a claim or you are facing an appeal because your claim was denied.