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WorkCompRecap: Losses & Expenses!

July 1, 2016 - WorkCompWire

Today’s issue of WorkCompRecap features the California WCIRB’s recent release of its report on workers’ compensation losses and expenses for 2015.

Key findings included that medical losses paid in 2015 were $4.9 billion, or 59% of total loss payments. In 2014, $5.0 billion, or 60% of total loss payments, were for analogous medical services. The total cost of medical cost containment programs increased to $511 million in 2015 compared to $471 million in 2014. The report also noted that total insurer losses incurred in CY 2015 were $10.7 billion, or 62% of calendar year premium. In CY 2014, total insurer losses incurred were $11.1 billion, or 68% of calendar year premium.

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

Filed Under: Editor's Forum

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