Tuesday, May 31, 2011

Insurers Report Little Difference in Worker's Compensation Experience Among Worrkers 35 to 64

According to published reports, Research from the National Council on Compensation Insurance (NCCI) suggests that there are little cost differences in the workers' compensation system among workers after the age of 35, up through 64. In a presentation to NCCI's Annual Issues Symposium in Orlando, Harry Shuford, NCCI's chief economist is quoted as saying: "Whatever impact on claim costs baby boomers will have, it's already in the workers' comp system. So there is no more stress on the system."
Looking at the leading types of injuries for those in the 20 to 34 year age group compared to those between the ages of 45 and 64 shows some marked differences.

For example, the top claim diagnosis for lost time claims in the older age group is sprain/rotator cuff, something that doesn't appear at all in the top 10 list of diagnoses for the younger workers. Knees are another source of injury for older workers, with torn medial cartilage/meniscus of knee the fourth top diagnosis for older workers, but not showing up in the list for younger workers, who suffered more back injuries and ankle sprains.
Harry Shuford's slides from his presentation are available online at: "More Older Workers: Workers Compensation and an Aging Workforce."

Source: Risk & Insurance "NCCI: Baby boomers pose little additional concern for comp system" (May 31, 2011)

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