Key Cost Drivers in Lost-Time Workers’ Compensation Claims
According to NCCI, workers’ compensation benefits cost U.S employers billions of dollars annually. Seven states account for 50% of all workers’ compensation spend in the United States – CA, NY, NJ, OK, IL, CT and AK.
White Paper Summary
The average cost of a lost-time workers’ compensation claim has increased every year for decades and now approaches $55,000 for a SINGLE lost-time claim! Medical costs associated with a single lost-time workers’ compensation claim now approach 55% of the total spend in contrast with only 48% of the total in 1998.
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