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Panel rejects proposal to raise workers' compensation wage-replacement to 66—1'3% after insurer and actuary testimony
Summary
Committee debate over restoring the indemnity replacement rate to 66 2/3 percent prompted actuarial testimony estimating a 5'6.3% rise in system loss costs; an amendment to raise the rate failed and the committee later recommended against advancing the bill.
A bill to restore New Hampshire workers' compensation indemnity benefits to 66 2/3 percent failed to win committee approval Thursday after testimony from the insurance industry and actuaries that the change would increase workers' compensation loss costs.
Representative Mark Mackenzie, sponsor of House Bill 744, told the House Labor, Industrial and Rehabilitative Services Committee the state formerly paid that replacement rate and that an increase would restore benefits curtailed during reforms in the 1990s. "66 and 2 thirds is to restore a benefit that we had prior to passage of ... 1993," Mackenzie said, arguing the market has stabilized and benefits can be partially restored.
NCCI (the National Council on Compensation Insurance) attorney Nathan Fennessy presented the insurer-side analysis. He…
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