Today’s issue of WorkCompRecap features the California WCIRB’s release of its report on workers’ compensation losses and expenses for calendar year 2018.
Key findings from the report included that medical losses paid in 2018 were $4.6 billion, or 55% of total loss payments. Of those payments, $1.2 billion were paid for physician services, $1.5 billion were payments made directly to injured workers. Total costs for medical cost containment programs decreased in 2018, coming it at $426 million compared to $443 million in 2017. Total insurer combined losses and expenses incurred in 2018 were $14.3 billion, or 82% of CY premium, versus $16.2 billion (92% of CY premium) in 2017.
Find out more (including a link to the free report!) by clicking here!
WorkCompWire will return on Monday. Have a great 4th of July, and be sure to take time to appreciate our freedoms and the sacrifices that make them possible!