Issue 1 and Workers' Compensation in Ohio
The state of Ohio, which currently forbids private-insurance companies from competing with the state-run workers’ compensation program, is now in the throes of deciding whether to allow private-insurance carriers to enter the market. A number of organizations have announced their opposition to this change, including the Ohio Manufacturers’ Association, the Ohio Chamber of Commerce, the Greater Cleveland Growth Association, the Ohio AFL-CIO, and the Nationwide Insurance Company. Such a unique amalgam of interests opposing private competition for workers’ compensation indicates the extent of confusion, complexity, and emotion in the lssue-l debate. The passage of Issue 1 will not guarantee competition; it will merely permit private-insurance carriers to enter the market. The Ohio Department of Insurance will be responsible for regulating these carriers if Issue 1 passes.
The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.
This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International
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