Legislative Update:
Senate Budget Committee released S613. This bill provides supplemental benefits for post 1980 dependents and the totally disabled. The bill still needs to be voted on by full Senate. Passage would cost employers approximately $150 million over the next 3 years and will impose higher SIF assessments against Self-insurers and carriers.
Senate Bill S-1134 - The Hand & Foot Bill. This bill increases the awards for hand and foot injuries that exceed 25% of these appendages.
Senate Bill S-1469 provides that surviving spouses of certain deceased members of fire, police and the state police departments will continue to receive dependency benefits for the entire period of survivorship. This bill was passed and signed into Law by the Governor.
Division News
Effective January 1, 2014, the maximum weekly rate for temporary and total disability will be $843.00 and increase of 2.1%.
Director of the Rating and Inspection Bureau, Fred Huber, has requested a 3.6% premium rate increase. Medical costs continue to spiral upwards resulting in higher WC cost.
Second Injury Fund Notice
The surcharge rate for funding the NJ Second Injury Fund will be 36.24% in 2014. All self-insured employers will receive a bill reflecting the surcharge rate.