this post was submitted on 05 Jun 2024
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You could probably adjust the levys, but maybe you wouldn't do 80% initially. But if you did, you'd probably disrupt the income protection insurance industry. I wouldn't mind paying higher ACC levy's and not having to pay income protection insurance.
What you could do to avoid too much disruption is adjust the levies and then cover everyone for a percentage but with max and mins.
The people who have income protection probably have a large overlap with those who have health insurance. They tend to be higher income, so if the cap were low, they would still need income protection insurance.
That way people who are in new jobs, and casual contract workers, are still covered.
Yes that would be a more palatable way to do it. If it can replace benefits for some people the savings could be fed into the scheme as well, to limit the levy increase.
That's a good point. I think long term it could even save money. So many people go into work with a bad back or whatever and damage themselves much worse.