Black Lung Benefits Program: oversight is needed to address trust fund solvency strained by bankruptcies : testimony before the Committee on Education and Labor, Subcommittee on Workforce Protections, House of Representatives

Black Lung Benefits Program: oversight is needed to address trust fund solvency strained by bankruptcies : testimony before the Committee on Education and Labor, Subcommittee on Workforce Protections, House of Representatives

Collection:
Health Policy and Services Research
Contributor(s):
United States. Government Accountability Office, issuing body.
United States. Congress. House. Committee on Education and Labor. Subcommittee on Workforce Protections, issuing body.
Publication:
Washington, DC : United States Government Accountability Office, February 26, 2020
Language(s):
English
Format:
Text
Subject(s):
Anthracosis -- economics
Bankruptcy -- economics
Coal Mining -- legislation & jurisprudence
Government Regulation
United States
Genre(s):
Technical Report
Abstract:
Why GAO did this study. In May 2018, GAO reported that the Trust Fund, which pays disability benefits to certain coal miners, faced financial challenges. The Trust Fund has borrowed from the U.S. Treasury’s general fund almost every year since 1979 to make needed expenditures. GAO’s June 2019 testimony included preliminary observations that coal operator bankruptcies were further straining Trust Fund finances because, in some cases, benefit responsibility was transferred to the Trust Fund. This testimony is based on GAO’s report being released today, and describes (1) how coal mine operator bankruptcies have affected the Trust Fund, and (2) how DOL managed coal mine operator insurance to limit financial risk to the Trust Fund. In producing this report, GAO identified coal operators that filed for bankruptcy from 2014 through 2016. GAO analyzed information on commercially-insured and self-insured coal operators, and examined workers’ compensation insurance practices in four of the nation’s top five coal producing states. GAO also interviewed DOL officials, coal mine operators, and insurance company representatives, among others. What GAO recommends. GAO made three recommendations to DOL to establish procedures for self-insurance renewals and coal operator appeals, and to develop a process to monitor whether commercially-insured operators maintain adequate and continuous coverage. DOL agreed with these recommendations.
Copyright:
The National Library of Medicine believes this item to be in the public domain. (More information)
Extent:
1 online resource (1 PDF file (17 unnumbered pages))
Illustrations:
Illustrations
NLM Unique ID:
9918284257906676 (See catalog record)
Permanent Link:
http://resource.nlm.nih.gov/9918284257906676