Illinois’ workers’ compensation rates may be going down, but not by enough to satisfy manufacturers. The governor’s office is touting recommendations by the National Council on Compensation Insurance to reduce rates by 5.5 percent in 2015. Illinois Manufacturers’ Association Vice President Mark Denzler welcomes the drop, but cautions that those are only recommendations, not the final figures.
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“So they’re not mandated rate reductions, and so actually, Illinois companies, particularly manufacturers have not seen anywhere close to an overall 18 percent reduction in the past several years,” Denzler said. It’s the governor’s office that says rates have dropped by 18 percent since the 2011 workers’ comp reform law. Denzler believes further reform is needed to bring workers’ comp costs in Illinois in line with other states.
In a statement announcing the declining rates, Gov. Pat Quinn said “Illinois is making a comeback and historic reforms like these will keep it going strong, driving our economy forward and creating jobs in every corner of our state.”
The Illinois Manufacturers’ Association has endorsed Quinn’s opponent in the November election, Republican nominee Bruce Rauner, partially based on Rauner’s support of additional workers comp’ reform.