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Rein in Excessive Workers' Comp Insurance Company Profits- Help Restore Fairness to Injured Workers!
Send A Letter Today!
The pendulum has swung too far in our workers' compensation system. Permanently disabled workers have had their benefits slashed by nearly 70%. Medical treatment continues to be delayed and denied. Employers have saved over $14 billion in costs.
And the insurance companies are making historic profits. For every dollar in premium they collect, they are paying out, on average, 36 cents in benefits and 37 cents is going to profits. Insurance companies are making more in profits then they are paying out in benefits. This inequity is outrageous.
That's why we are sponsoring insurance rate oversight legislation (AB 2692, Hernandez). This bill would require the Insurance Commissioner to set a floor on how much insurers must spend on benefits by establishing a minimum loss ratio. For insurance companies who don't meet the minimum loss ratio, the Insurance Commissioner would impose rate oversight.
Urge legislators to support this important reform- send a letter today using our simple online form.
Governor Schwarzenegger and a majority of the legislature last year supported establishing a medical loss ratio of 85% for health insurers. Workers' comp insurance companies should be subject to a similar standard. AB 2692 is set to be heard in the Assembly Insurance Committee on Wednesday, April 16th. Committee members have yet to commit to supporting this important Labor sponsored bills. Union members must weigh in with their legislators to guarantee that this important bill continues to move.
Send a letter today and help rein in these profiteering insurance companies!
| Sample Letter for Campaign |
Subject: Support AB 2692 and Protect Californians Injured at Work from Sky-Rocketing Health Care Costs!
Dear [ Decision Maker ] ,
The pendulum has swung too far in our workers' compensation system. Permanently disabled workers have had their benefits slashed by nearly 70%. Medical treatment continues to be delayed and denied. Employers have saved over $14 billion in costs.
And the insurance companies are making historic profits. For every dollar in premium they collect, they are paying out, on average, 36 cents in benefits and 37 cents is going to profits. Insurance companies are making more in profits then they are paying out in benefits. This inequity is outrageous.
AB 2692 would require the Insurance Commissioner to set a floor on how much insurers must spend on benefits by establishing a minimum loss ratio. For insurance companies who don't meet the minimum loss ratio, the Insurance Commissioner would impose rate oversight.
Governor Schwarzenegger and a majority of the legislature last year supported establishing a medical loss ratio of 85% for health insurers. Workers' comp insurance companies should be subject to a similar standard.
Please help begin to restore fairness and equity in the workers' comp system by supporting AB 2692. Workers and employers deserve it.
Sincerely,
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