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Workers compensation costs paid by employers rose 6.9% to $83.2 billion year-over-year in 2012, driven largely by an increase in worker numbers and earnings, the National Academy of Social Insurance said Tuesday in a report.
Wages eligible for workers comp coverage increased 4.3% to $6.3 trillion in 2012 from 2011, and the number of covered workers increased 1.6% to 127.9 million in 2012, the Washington-based NASI said in “Workers' Compensation: Benefits, Coverage, and Costs, 2012.”
Workers comp benefits increased modestly in that time frame, NASI's report showed. Wage replacement benefits grew 1.8% from 2011 to 2012, while medical benefits grew 0.9%.
“As employment increases, the number of workers covered by workers compensation increases, along with the number of work-related injuries, and workers' compensation benefits and costs,” the report said.
A copy of the report is available here.
LAS VEGAS — The Patient Protection and Affordable Care Act makes little mention of workers compensation, but the law will indirectly affect workers comp systems nationwide in both negative and positive ways, one doctor said during the Disability Management Employer Coalition's conference in Las Vegas.