As Professor Jason Bent has recently discussed on this blog, there have been a series of recent constitutional challenges to Florida’s workers’ compensation statute. Casual readers may be left with the sense that the Florida Supreme Court has done something…
via Reflections on the Costs and Benefits of Changes in Workers’ Compensation Law — Workers’ Compensation Law Prof Blog
2 thoughts on “Reflections on the Costs and Benefits of Changes in Workers’ Compensation Law — Workers’ Compensation Law Prof Blog”
Another way of looking at the economics of the Florida decisions is that the Legislature by enacting such draconian measures transferred over $1B worth of employees benefits(value) to employers reducing balance of fairness in the bargain upon which modern workers compensation systems are based. Basically, employees are getting less than they bargained for and employers getting more than they paid for.
Assuming the 1 billion dollar figure has any basis (I understand Florida WILG folks may soon be launching a Sunshine Act challenge to gain access to the actuarial calculations) we are always left with the question of what that naked figure represents. Part of the Hialeah Hospital challenge involves an argument that the move from contributory to comparative negligence in Florida caused the gross undervaluation of negligence cases. And you are right, one way of looking at the 1 billion dollar retrospective is that injured workers and their lawyers were grossly underpaid.