Workers' Compensation

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Workers' Compensation

Insurance that pays for an employee's medical care in the event that he/she is injured at work. Workers' comp may also provide for lost wages and compensate for disability or reduced earning potential. In exchange for receiving workers' comp, the employee surrenders the right to sue the employer for negligence. Workers' comp is mandatory in many jurisdictions and employee paychecks are reduced by the amount of the premium.
References in periodicals archive ?
Increases in workers compensation medical costs, caused by general medical inflationary trends, were magnified by cost-shifting from other, more restrictive, medical coverage (workers compensation provides first-dollar cover age that is generally unlimited).
Our experience shows that the frequency of losses in workers compensation involve sprains, strains, cuts, contusions, and abrasions to fingers, toes, feet, ankles, arms and legs.
The rise in the cost of workers compensation insurance is a national problem for employers," stated Edward J.
In recent years, wages and medical costs have increased by nearly 40 percent - causing a significant increase in the benefits paid by workers compensation insurers.
They are in use in the operations of nine of the top 10 property/casualty carriers and 65 percent of the nation's state workers compensation funds.
His expertise includes reducing medical (and total) costs of workers compensation claims, the problems with the workers compensation system as a whole, workers compensation technology, specialty managed care for workers' compensation, and why traditional managed care techniques no longer work.
Heurter is published in numerous trade and professional publications, including The Journal of Workers Compensation, the nation's foremost journal for the workers' compensation industry; Workers' Comp Cost Control Report, and Safety Compliance Letter.
The average medical payment per claim of $8,406 in Tennessee is the second highest of the 12 states in the study and is 25 percent higher than the median of $6,736, reported the Workers Compensation Research Institute (WCRI).

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