Today’s issue of WorkCompRecap features a new CWCI analysis of intial OSIP data covering FY 2012/13 public self-insured claims that found total paid and incurred losses declined for the fiscal year ended June 30, as the number of claims and the average medical and indemnity loss per claim all fell.
CWCI noted that total aggregate payments on claims were down 6.4% compared to 2011/12, which worked out to an average payment per claim of of $2,722 for 2012/13, which was a 4.9% drop from the comparable figure from FY 2011/12, but still 24.6% more than the post-reform low. Splitting out medical and indemnity payments revealed 6.8% and 3% decreases respectively over 2011/12, but both remained more than 20% over post-reform lows from 2005/6.
Find out more by clicking here!