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Workers' compensation: coverage, benefits, and costs, 1985.

W J Nelson

    Social Security Bulletin
    |January 1, 1988
    PubMed
    Summary

    Workers' compensation benefits and employer costs increased significantly in 1985. For the first time since 1978, employer cost growth outpaced benefit growth, slightly reducing the loss ratio.

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    Area of Science:

    • Labor economics
    • Occupational safety and health
    • Insurance studies

    Background:

    • Workers' compensation laws protect millions of US workers.
    • The program involves substantial benefit payments and employer costs.
    • Understanding trends in these costs and benefits is crucial for economic analysis.

    Purpose of the Study:

    • To analyze the trends in workers' compensation benefit payments and employer costs from 1984 to 1985.
    • To examine the components of benefit payments (money vs. medical care).
    • To identify the distribution of payments among different insurance providers.

    Main Methods:

    • Analysis of national data on workers' compensation laws, benefits, and employer costs for 1984-1985.
    • Calculation of percentage changes in benefit payments, employer costs, and covered payrolls.
    • Examination of the loss ratio (benefits as a percentage of costs).

    Main Results:

    • Workers' compensation protected 87% of wage and salary workers in 1985.
    • Total benefit payments rose by 14.1% to $22.5 billion, with $15.1 billion for income and $7.4 billion for medical care.
    • Employer costs increased by nearly 17% to $29.3 billion, exceeding benefit growth for the first time since 1978.

    Conclusions:

    • The workers' compensation system experienced substantial financial growth in 1985.
    • A shift in the balance between benefit increases and employer cost increases was observed.
    • The findings highlight the dynamic nature of workers' compensation program costs and payouts.

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