2016 Workers’ Compensation Fiscal Data Research Bulletin

//2016 Workers’ Compensation Fiscal Data Research Bulletin

2016 Workers’ Compensation Fiscal Data Research Bulletin

$ 25.00

The annual Workers’ Compensation Fiscal Data Research Bulletin showing state workers’ compensation system payments and costs from 2005 to 2014 is now available.

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Description

The annual Workers’ Compensation Fiscal Data Research Bulletin showing state workers’ compensation system payments and costs from 2005 to 2014 is now available.

The bulletin shows the continued slow expansion of the economy after the great recession as the number of covered workers under state workers’ compensation laws increased from 127.4 million in 2013 to 129.9 million for 2014.

Total indemnity benefits decreased by $174.3 million (-0.6%) from 2013 to 2014, but increased by $78.5 million (0.3%) from 2005 to 2014.

Total medical benefits decreased by 19.2 million (-0.1%) from 2013 to 2014, but increased by $4.7 billion (18.6%) from 2005 to 2014.

States had significantly different costs per employee, with the following highest and lowest benefit costs per employee in 2014. Note: the benefit cost per covered employee is not a specific measure of costs to employers for comparable work across states and does not account for differences in industrial composition of a state work force.

Highest

  • Washington ($825)
  • California ($777)
  • Alaska ($682)
  • Wyoming ($666)
  • New York ($641)
  • West Virginia ($640)
  • New Jersey ($598)
  • Delaware ($598)

 Lowest

  • Texas ($174)
  • DC ($190)
  • Arkansas ($192)
  • Indiana ($207)
  • Utah ($217)
  • South Dakota ($249)
  • Michigan ($264)
  • Tennessee ($273)
  • Virginia ($274)

The national trend from 2013 to 2014 was to reduce the average benefit cost rate. Only 4 states had increases or remained at the same level.

States with the greatest increases from 2013 to 2014 in average benefit cost rate were:

  • Massachusetts (1.9%)
  • Nebraska (1.2%)
  • Illinois (no change)
  • Virginia (no change)

States with the greatest decreases from 2013 to 2014 in average benefit cost rate were:

  • Alaska (-18.8%)
  • Oklahoma (-16.2%)
  • DC (-14.3%)
  • Michigan (-14.1%)
  • North Carolina (-13.6%)
  • Indiana (-12.5%)

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