June 21, 2018

WorkCompRecap: New Lost Time Study!

Today’s issue of WorkCompRecap features the recent release of a new report from the non-profit Integrated Benefits Institute (IBI) on the results of their most recent Lost Time benchmarking study, including Short and Long Term Disability, FMLA, and of course most importantly to our readers: Workers’ Comp. The study sought to determine if there were corresponding dramatic changes in employer experience in lost-time benefits programs amid “the worst economic news in decades” between 2008-2010.

Highlights from the Workers’ Comp section of the report include the fact that durations for workers’ compensation were essentially flat, and that new and closed workers’ compensation claims have declined as a share of claims inventory. Also of note was the fact that they saw medical costs for these claims increasing 17% during the period compared with 10% for indemnity claims.

Find out more (including a link to the full report!) by clicking here!

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