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!