Workers’ Compensation: Benefits, Coverage, and Costs, 2013

Source: Ishita Sengupta and Marjorie L. Baldwin, National Academy of Social Insurance, ISBN: 1-884902-63-4, August 2015

From the press release:
Workers’ compensation benefits as a share of payroll for injured workers continue to decline even as employment grows and overall employer costs increase, according to a new report from the National Academy of Social Insurance (the Academy). … Despite the growth in employment following the Great Recession – and the significant uptick in employees eligible to receive workers’ compensation – benefits per $100 of covered payroll dropped to $0.98 in 2013, a 5 percent decrease from 2009. At the same time, the growing workforce has translated into rising workers’ compensation costs for employers – now $1.37 per $100 of covered payroll, a 5 percent increase from 2009. Workers’ compensation benefits as a share of payroll were lower in 2013 than during almost any period in the last three decades, according to the report, Workers’ Compensation: Benefits, Coverage, and Costs, 2013. Total workers’ compensation benefits in 2013 were $63.6 billion, while employer costs were $88.5 billion. Benefits as a percent of payroll declined in 39 states between 2009 and 2013, continuing a national trend in lower benefits relative to payroll that began in the 1990s. ….