The Montana Economic Affairs Interim Committee met May 26, 2010, to make some sweeping changes to the state’s workers compensation procedures.

Montana worker compensation rates are amongst the highest in the country. The committee approved a list of new reforms aimed at reducing costs, improving benefits, and making worker’s compensation more efficient.

A rare agreement between representatives of both labor and management advisory councils was necessary for this approval.

Co Vice-Chair for Labor Management Advisory Council representing Management, Bob Worthington says “we’re the most costly, least cost efficient state to do business in for workers compensation it’s very high and that is not conducive to business and not conducive to economic development. Therefore the big challenge is to get control of the costs but at the same time not doing anything detrimental to the injured worker.”

If you have questions about your workers’ compensation benefits, contact the New Jersey workers’ compensation attorneys of Levinson Axelrod at 800-346-5529.

The Massachusetts legislature approved a bill this week that decreases workers’ compensation insurance costs by 2.4 percent, to go into effect September 1. This should amount to about $22.5 million saved.

This is the tenth time that the state has reduced workers’ compensation insurance costs since 1994.

“Lowering the cost of workers’ compensation insurance is very much in keeping with our larger goal of improving the state’s business climate so that we can grow the economy and create jobs,” Gov. Deval Patrick said.

Paul Meagher, president of the Workers’ Compensation Rating and Inspection Bureau of Massachusetts, disagrees. The organization had lobbied for 4.5 percent increase in rates prior to the passage of the new rate decrease.

“In today’s uncertain economic climate, maintaining a healthy voluntary market for workers’ compensation insurance will likely be a challenge given the continuing increase in claims severity and low expected industry investment returns,” he said. “The WCRIBMA is committed to working with its committees, members, regulators, and other stakeholders toward our shared goal of a stable and healthy workers’ compensation market in the Commonwealth,” Meagher said.

If you are looking for legal advice when it comes to worker’s compensation, contact the New Jersey workers compensation lawyers of Levinson Axelrod, P.A., at 800-346-5529.