Oakland, CA – A new California Workers’ Compensation Institute (CWCI) study finds that the number of California workers’ compensation inpatient hospital stays fell 31.2% between 2008 and 2016, compared to a 19.6% drop in hospital stays paid under private plans, a 2.4% increase in Medicare inpatient stays, and a 19.6% increase in inpatient stays paid by Medi-Cal, which saw a huge jump in enrollment with the rollout of Affordable Care Act (ACA) plans. To measure and compare the use of…[Continue Reading]
Association, Rating & Research News
A.M. Best Affirms Credit Ratings of Subsidiaries of Old Republic International Corporation
Oldwick, NJ -(BusinessWire)- A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Old Republic Insurance Company (Greensburg, PA) and Old Republic Lloyds of Texas (Dallas, TX) (collectively referred to as Old Republic Insurance Companies [ORINSCO]); BITCO General Insurance Corporation and BITCO National Insurance Company (both domiciled in Rock Island, IL) (collectively referred to as BITCO…[Continue Reading]
New NCCI Series Examines Impact of Opioids on Workers’ Compensation System
Boca Raton, FL – The National Council on Compensation Insurance (NCCI) is examining the growing issues related to opioid use in America through a three-part series, On Opioids. This series is aimed at exploring three viewpoints on issues surrounding opioid use and workers compensation: those of doctors, insurers, and regulators. NCCI has posted its first article of the series On Opioids: The Doctors’ Perspectives on ncci.com. “The current opioid epidemic touches individuals, families, and…[Continue Reading]
WCRI Studies Examine Trends in 18 State Workers’ Comp Systems After Some Enacted Reforms
Cambridge, MA – The economic and regulatory factors impacting the average total cost per workers’ compensation claim in 18 states are examined in a series of just-published Workers Compensation Research Institute (WCRI) studies. WCRI’s 2018 CompScope™ Benchmarks, 18th Edition studies analyze workers’ compensation claims data over a period of years and examine trends in the average total cost per workers’ compensation claim and the components in a given state. “The CompScope™ studies…[Continue Reading]
ReEmployAbility Releases Annual Return-to-Work Program and Community Impact Results
Tampa, FL – As ReEmployAbility enters its 15th year of service, they are excited to publish the Transition2Work® Program Results Summary. The summary provides a report of the program’s community impact, performance results, and injured worker outcomes through fiscal year 2017. Since 2007, ReEmployAbility’s nationwide Transition2Work program has placed injured employees at local nonprofit organizations to perform light duty work when their pre-injury employer cannot accommodate…[Continue Reading]
Coventry Releases Part 1 of 2017 First Script Drug Trends Report Series
Downers Grove, IL – Coventry recently announced the release of the first part of its 2017 Drug Trends Series, which is based on all calendar year transactions billed through its PBM Program, First Script, as well as transactions from medical bill review to reflect the total pharmacy experience for their client base. With this report Coventry is continuing to distribute its trends analyses in shorter, easier-to-digest installments rather than as a single voluminous document. Coventry based its decision on the supportive…[Continue Reading]
MN DLI Report: Long-Term Downward Trend Continues in Number of Workers’ Comp Claims, Insurance Cost
St. Paul, MN – The number of paid workers’ compensation claims fell 54 percent relative to the number of full-time-equivalent (FTE) employees from 1996 to 2016, according to the 2016 Minnesota Workers’ Compensation System Report, just released by the Department of Labor and Industry. Significant findings: The number of paid claims fell from 8.8 per 100 FTE employees in 1996 to 4.0 in 2016. The cost of the workers’ compensation system for 2016 amounted to $1.24 per $100 of payroll. In Minnesota…[Continue Reading]
NCCI Launches “Plug In & Power Up” Access to Workers’ Comp Info and Products
Boca Raton, FL – The National Council on Compensation Insurance (NCCI) has announced the launch of its Plug In & Power Up initiative. The effort streamlines customer access to a broad range of NCCI’s services and tools. The series of new products and enhancements allows customers to access workers compensation data and information in powerful new ways that also flexibly respond to their preferences. “NCCI is committed to helping workers compensation professionals ‘power up’ their…[Continue Reading]
A.M. Best Upgrades Credit Ratings of Members of Fire Districts Insurance Group
Oldwick, NJ -(BusinessWire)- A.M. Best has upgraded the Financial Strength Rating to B++ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb” from “bb+” of the members of Fire Districts Insurance Group (FDIG), which consists of Fire Districts of New York Mutual Insurance Company, Inc. and its wholly owned subsidiaries, FDM Preferred Insurance Company, Inc. and Fire Districts Insurance Company, Inc. (all domiciled in Chestnut Ridge, NY). The outlook of these Credit Ratings (ratings) is…[Continue Reading]
WCRI Releases 2018 National Inventory of Cost Containment Initiatives
Cambridge, MA – With medical benefits representing the single largest cost component for many state workers’ compensation systems, the Workers Compensation Research Institute (WCRI) has released its Workers’ Compensation Medical Cost Containment: A National Inventory, 2018. “This study provides a basic understanding of the cost containment initiatives adopted nationally and provides additional references for those who want more detail,” said Ramona Tanabe, WCRI’s executive vice president and counsel…[Continue Reading]