NASI report shows work comp benefits once again decline in ...

Last week, the National Academy of Social Insurance released its annual report examining the current state of workers compensation programs here in the United States. Once again, it made some very interesting revelations concerning the payment of workers' compensation benefits in 2010 -- the most recent year in which a complete data set is available.

The report, entitled "Workers' Compensation: Benefits, Coverage and Costs, 2010," examined work comp benefits paid on the national and state level, as well as work comp benefits paid through federal programs.

A few of the more noteworthy findings of the report include the following:

• The number of workers in the U.S. covered by work comp insurance fell by .3 percent in 2010
• Work comp benefits in the U.S. fell to $57.5 billion in 2010; this constitutes a .07 percent decline from the $57.9 billion paid out in 2009
• Employer costs stemming from work comp benefits fell by 2.7 percent in 2010, reaching the lowest level since 1980

According to the researchers, turbulent economic conditions continued to influence the figures.

"Employers' costs as a percent of payroll declined in 43 jurisdictions," said John F. Burton, the chairperson of the panel directing the NASI report. "This decline is probably due to the slow pace of the recovery, with many jurisdictions still experiencing relatively high unemployment rates."

The NASI report also presented a rather interesting picture of things here in the state of California.

Specifically, the report found the following:

• The number of workers in California covered by work comp insurance fell by 1.4 percent in 2010
• Employer costs stemming from work comp benefits actually rose by 1.6 percent in 2009
• Work comp benefits used for medical treatment rose by 1 percent while work comp cash benefits fell by 1.1 percent

Stay tuned for further updates from our San Diego workers' compensation firm ...

This post was for informational purposes only and is not to be construed as legal advice.

Sources:

EHS Today, "Report: Workers' compensation costs, benefits decline in 2010," Laura Walter, Aug. 2, 2012

National Academy of Social Insurance, "Workers' Compensation: Benefits, Coverage and Costs, 2010," August 2012

Source: http://www.sandiegoworkerscompensationlaw.com/2012/08/nasi-report-shows-work-comp-benefits-once-again-decline-in-california-and-rest-of-the-us.shtml

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