|Rep. Keith Wheeler|
SPRINGFIELD – House Democrats this week pushed through poorly-written legislation that would put the State of Illinois into the worker’s compensation insurance business. State Representative Keith Wheeler (R-Oswego) issued the following statement in response to the party line vote approving House Bill 2622:
Specifically, House Bill 2622 would create a state-run nonprofit corporation to offer workers compensation insurance to employers; this despite the fact that Illinois already has the most competitive workers’ compensation insurance market in the nation, with over 330 private companies already operating in the state.
“HB 2622 would put the taxpayers of Illinois on the hook for an initial $10 million start-up loan for the creation of a not-for-profit workers’ compensation insurance company; $3 million of which comes right off the top to cover overhead costs. The bill sponsor presented no business plan and no information for how they would seek paying clients. Our state’s inability to pass a balanced budget and live within its means is well documented. There is absolutely nothing to indicate that this $10 million investment would deliver the results for Illinois’ jobs climate promised by the sponsor.”
“We need real reforms that drive down the actual cost of workers’ compensation insurance for Illinois job creators; beginning with stronger causation standards that curb fraud and abuse of the system. This alone would go far in moving the needle to reduce the astronomical costs our businesses pay.”