In an attempt to turn over a new leaf, the administrator of Ohio’s troubled Bureau of Workers’ Compensation (BWC) has announced plans to improve financial results by up to $424 million. These improvements appear to be based on plans to cut health care expenses, improve investment income, and other administrative changes.
Ohio’s workers comp fund, the only source for comp insurance in the state, has been hammered by reports of excessive payments to hospitals, fraudulent investments, including reserves invested in rare coins, cronyism and back-room dealings resulting from ineffective oversight.
While I sincerely hope they get their act together, if they do, I’ll sure miss the entertainment value. After all, its not every day you see work comp hit the daily news… and certainly rare indeed when comp is mentioned in the same sentence with Abramoff, Delay, and the rest of the current crop of miscreants.
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