How Would Workers Compensation Insurance Carriers Fit Into the ObamaComp Model?

The effect on a nationalization of Workers Compensation insurance would have to revolved around 24 hour coverage. As I have mentioned in few prior posts, the ObamaComp Model would have three main characteristics:

• Center on 24 hour coverage - the leap from nationalized healthcare to 24 hour healthcare is a small one.
• Workers Comp insurance carriers would have to adopt a AFLAC(R) type of insurance coverage or companies such as AFLAC could team up with or start a Workers Compensation carrier
• There would be a Federal Insurance Office

Workers Compensation carriers would not look like or operate like they do now. Their actuaries would have to factor in many variables into a very complicated formula to be able to price the model, or would the Federal Insurance Office set the rates? How would the State Rating Bureaus or NCCI function within this type of arrangement? How would Self Insureds function and could companies opt-out of the coverage?

I could write another 100 questions at least on how would 24hour coverage and the nationalization of Workers Comp would function. As I have posted in every one of these blogs on ObamaComp, this is an analysis only, not a political statement. I wanted companies and people to start thinking about how this would affect them.

Next up - Subcontractors