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Interesting Article on Worker’s Comp

I know that this article is off-topic, but I could not let it pass.

It seems that claim severity is down in the worker’s compensation market.  This article reports that  "[o]verall injury rates have dropped by an average of 3.9% per year since 1996 including an estimated 4.5% decline in 2005, according to the 2006 study. But for the two most recent years, high-cost claims have shared equally in the frequency decline …."

Does this mean rates will be coming down?  Nope – because medical costs have seen average increases of 9.1%  each of the last four years.

Amazing.  Someday our Legislature will understand that the only way to get a handle on comp costs is to get a grip on medical costs.   Everyone knows that injured workers are a cash cow for the health care industry – the rate of reimbursement paid by employers (or their insurers) exceeds that of almost every other payor.

Here is a copy of the complete study.

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