When Florida’s Supreme Court struck down key workers’ compensation reforms earlier this year, small business owners found themselves on the end of a fee increase for 2017. But the decisions could have more far-reaching consequences, too.
Earlier in December, State Rep. Cord Byrd filed legislation that would allow business owners to opt out of the workers’ compensation system.
“Workers’ compensation in Florida has for too long been a one-size-fits-all proposition and the Florida Supreme Court’s decision to rewrite the statute has added expensive and confusing uncertainty for everyone involved — insurance carriers, employers, and employees,” Byrd said in statement.
Now, small business owners await a possible reprieve as the state mounts a challenge to a ruling that could overturn the rate hike.
As for opt-out bill, Herrle says it may be a worst-case scenario fix. “It’s truly an option of the very last resort, because it is fraught with greater liability exposure for uninsured small businesses and their customers,” Herrle told Florida Politics. Business owners will be harmed if nothing is done, he added.
