Missouri businesses could face significantly higher costs for workers' compensation insurance next year.
The National Council on Compensation Insurance projects Missouri insurers will see an 11.6 percent increase in their claim costs in 2014.
This increase is driven partly by a new Missouri law that seeks to shore up the Second Injury Fund, which is for disabled workers who suffer additional on-the-job injuries. The law shifts some types of claims out of that fund and into traditional workers' compensation insurance.
But the likelihood that the House will also override the Governor’s veto is virtually nonexistent, according to Majority Floor Leader Tim Jones (R, Eureka). He says they just don’t have the votes, even within their own party.
“We would have to first convince our caucus," Jones said. "And even if we did, we’re still simply three votes short on a bill that no Democrat, I believe, has supported to this point…that’s a tough vote.”
A new bill moving through the Missouri Senate aims to reform workers' compensation in the state. Backers say the move is badly needed to improve the business climate in Missouri. But there is little consensus on the specifics.