The Department of Labor's Office of Workers' Compensation Programs has issued a final rule regarding the Black Lung Benefits Act (BLBA) and the authorization of coal mine operators as self-insurers. This rule updates the process for operators to apply for self-insurance, sets new standards for the amount of security required to self-insure, and clarifies the appeals process. The rule aims to better secure the Trust Fund that pays benefits when operators default, by requiring all self-insured operators to provide security equal to 100% of their projected black lung liabilities. These changes are intended to protect the Trust Fund from financial strain caused by bankruptcies and reduce administrative burdens.
Simple Explanation
The Department of Labor has made new rules for coal companies that want to pay their own insurance for workers. They must now promise to cover 100% of possible costs, like piggy banks that are full just in case something goes wrong.