Late-term workers comp claim costs expected to grow: NCCIPosted On: Jan. 21, 2013 12:00 AM CST
More than 10% of the workers compensation medical benefit costs for injuries occurring this year will be paid for services provided more than two decades from now, according to NCCI Holdings Inc.
The percentage of total claims for “late-term” costs — those that will be incurred 20 to 30 years in the future — has been growing and could continue to do so, the Boca Raton, Fla.-based research and ratings organization reported on Monday.
Among other findings, NCCI said that:
• Male claimants incur about 75% of the costs for late-term workers comp care, even though they represent less than 60% of the workforce.
• Fewer than 40% of late-term workers comp claimants are under age 60, but they incur nearly half the costs of late-term care.
• Drugs, home health services and orthotic devices consume a greater share of costs provided 20 to 30 years after an injury than they do when a claim is within 20 years of an injury.
NCCI's research brief is available here.