WCRI Reports Workers Comp in PA is Moderating

Scales_previewWorkers comp costs per claim have been on a steady growth in Pennsylvania but are finally moderating, according to new reports from WCRI.  The report entitled “Benchmarks for Pennsylvania, CompScope 14th Edition,” disclosed that between 2009-2009 claims grew by 3.4%, after the previous years growth was as high as 7.6%.

The moderation was not just across one factor of cost either-it was seen across many factors such as medical spend, wage replacement, and attorney expenses.

Other findings in the report:

  • Indemnity benefits were higher than 16 other states in the WCRI study.  This seemed to have been caused by longer open claims with temporary disability benefits and greater lump sum payouts.
  • In relation to other states, Pennsylvania had higher litigation expenses .
  • Medical payment costs seemed to rise at a similar rate as most of the states in the study, reflecting a consistent increase for the price of professional services.

It is good to see that PA is finally beginning to stabilize after years of growth costs and premium increases.  This means that companies are finally looking into cost savings and even employers are looking into safety which could help drive less claims.

Source: WCRI

 

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