When workers in Tennessee are injured on the job, they often have a right to seek workers’ compensation benefits through their employers. But kawmakers have been considering changing the law to allow businesses to “opt out” of such coverage if they meet certain standards.
The Nashville workers’ compensation attorneys at Ponce Law explain that under Senate Bill 721, which is sponsored by House Representative, Jeremy Durham, employers would be able to ditch their Tennessee workers’ compensation coverage if they could provide a minimum amount of compensation to pay workers injured on the job. Employers are required to provide at least $300,000 in coverage for potential medical expenses, as well as a minimum of $3.75 million for possible lawsuits. Also, the company must provide financials to prove they are capable of making payments.
While the bill seems like a compromise between employees and businesses that didn’t want to take part in the current Tennessee workers’ compensation program, the bill has been put on hold until at least next year by lawmakers. The Knoxville News Sentinel reports the bill will be filed and reconsidered during next year’s legislative session.
At Ponce Law, we believe it’s important that workers be fairly compensated for injuries on the job. Our Nashville personal injury lawyers will be following how this bill progresses through the legislative system during the coming months.