Workers' Comp Reforms Continue to Bring Savings

New system saves money while still protecting workers

Oklahoma City (September 3, 2015) – State Chamber of Oklahoma Senior Vice President of Government Affairs Jonathan Buxton released the following statement after the National Council on Compensation Insurance (NCCI) filed an overall loss cost level decrease of 14.8 percent for next year:

“Another reduction in the loss cost filing is a great sign for business in Oklahoma. This is a savings to business of around $148-million for one year and over $368-million since the reforms were passed. That is a reduction of one third of worker’s compensation costs for Oklahoma businesses. Along with fewer overall claims, it shows the 2013 workers’ compensation reforms are working and the Governor, legislature and Workers’ Compensation Commission should be lauded for creating the administrative workers’ compensation system. We are confident that the ongoing work of the Commission will continue to streamline the claims process and reduce the “friction costs” associated with the old court-based system. The State Chamber will continue to work for system improvements that keep costs down while helping injured workers get back on the job.”

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