Connecticut Senate Bill SB00805

Connecticut 2021 Regular Session

• Introduced: 2/1/21
• Refer: 2/1/21

Caption

An Act Creating A Public Option For Workers' Compensation Insurance.

Impact

If enacted, this legislation would significantly alter the current landscape of workers' compensation insurance in the state. By introducing a public option, the bill seeks to mitigate the high costs associated with private insurance policies and provide a competitive alternative that may lead to lower premiums for employers. Additionally, it could improve coverage options for injured workers, ensuring that they receive adequate support and benefits.

Summary

SB00805, also known as the Act Creating A Public Option For Workers' Compensation Insurance, aims to establish a state-funded workers' compensation insurance program. This initiative would allow employers the choice of purchasing workers' compensation insurance either from the state or from a private insurance carrier. The purpose of the bill is to create a public option that would enhance accessibility and affordability of workers' compensation insurance for employers across the state.

Contention

The introduction of a public option for workers' compensation insurance has raised notable points of contention among stakeholders. Supporters argue that this measure will foster competition in the marketplace, ultimately benefiting both employers and employees. Conversely, opponents fear that a state-funded program may lead to increased costs for the government and potential inefficiencies in service delivery. Furthermore, there are concerns about the potential impact on private insurers, who may struggle to compete with a state-backed option, raising questions about market dynamics and sustainability.