This infographic was created by Eastern Kentucky University’s Bachelor of Science in Occupational Safety program. The post Workers Comp And The Most Dangerous Industries In The U.S. appeared first on Work Comp Roundup.
Beginners Guide to Workers Comp Reserves
Reserves are the amount of money that is set aside to pay the cost of a workers’ compensation claim. The reserve amount is the number of dollars necessary to pay the financial and legal obligations of the self-insured employer or the insurer. The Sarbanes-Oxley Act of 2002 and other regulations require insurers and self-insureds to...
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3 ways technology will improve elder care
retirement Technology has changed the way we socialize, find information and bank, and it’s also having an impact on elder care. As the population ages, adult children are increasingly taxed with taking care of their parents or footing the bill for that care, which can cost thousands of dollars per year. A proven way to...
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Warning For Employers: Social Security Problems & Consequences For Workers Comp
The trust funds for the Social Security disability benefits program are nearly exhausted and will be gone by 2016. What consequences are there for an employer’s workers compensation costs? Laws Do Not Exist In a Vacuum Laws do not exist in a vacuum. They are likened to a spider web – put tension on one...
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Is Horseplay in the Workplace Compensable?
Horseplay and lack of safety and loss control mechanisms is a significant driver in any workers’ compensation program. By instituting effective written policies, stakeholders can take a proactive step to controlling costs by preventing unnecessary workplace injuries. An All Too Common Hypothetical Frank and Ralph work for Sparky Electric Company. One day Frank is working...
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Consolidation in the real world – implications for workers’ comp
There’s been a lot of mergers and acquisitions in the work comp arena, and certainly more to come. But the activity in our little corner is minor indeed compared to what’s happening in the “real world” – group health, Medicaid, and Medicare. Make no mistake, these transactions will affect work comp. You’ve probably heard of some of...
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Up to 39% of Work Comp Claims Involve Malingering
Most workers compensation employees would not think or stoop to actual fraud for a workers compensation claim. Most studies have found actual fraud is 1 or 2 percent of all claims presented. However, other studies show that malingering might be as high as 39 percent in some area of claims presented. Sadly both fraud and...
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Friday catch-up
Gotta love the start of summer; hope your weekend is going to be filled with fun and family. But before you go, here’s what’s been going on over the past couple of weeks. First, your morning outrage…here’s the latest from the world of “how do we suck as much profit from employers and taxpayers as...
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Hospital prices are up. Way up.
And this means higher costs for those getting treatment outside of their core networks, and especially for work comp payers. While Medicare reimbursement has remained pretty level, hospitals have been busy raising their list prices by more than 10 percent over the last couple of years. This doesn’t really affect most patients as their rates...
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Is ACA affecting work comp medical waiting times?
Research to date says no. Equian’s Glen Boyle shared some research with me that indicates there doesn’t seem to be any delays in claimants getting physician appointments. Glen was following up on my post on NCCI’s research report at last week‘s AIS which also didn’t find any ACA-related delays. Here’s Glen: I tracked 10,000 claims for...
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