Indiana House Bill HB1298

Indiana 2023 Regular Session

• Introduced: 1/11/23
• Refer: 1/11/23
• Refer: 1/12/23

Caption

Worker's compensation.

Impact

The passage of HB 1298 is expected to have significant implications for how workers' compensation insurance operates in Indiana. By removing the requirement for contracts to stipulate particular experience ratings, the bill will allow a broader range of agreements between employers and insurers. This change could lead to more competitive pricing structures in the insurance market and may encourage employers to engage in more risk management practices to reduce overall claims, thereby potentially lowering their premiums in the long run.

Summary

House Bill 1298 aims to amend the existing Indiana labor laws concerning workers' compensation. It specifically prohibits any contract, bid specification, or agreement entered into after June 30, 2023, from requiring an employer to maintain a specified experience rating. This regulatory change is intended to provide employers with greater flexibility regarding their insurance obligations and could potentially lower costs related to workers' compensation insurance. Experience ratings are typically used to determine an employer's insurance premiums based on their history of claims and overall safety records.

Contention

The legislative discussions surrounding HB 1298 may reflect concerns regarding the balance of liability and protection for workers. As the bill seeks to redefine contractual obligations related to experience ratings, some stakeholders may worry that it could lead to an environment where employers are less incentivized to prioritize workplace safety. Critics may argue that reducing the influence of experience ratings could undermine the financial accountability of employers for workplace accidents, ultimately impacting employees' welfare and rights within the labor market.