How much does the average workman's comp claim cost?

Question

I've bee researching for the average cost per workman's comp claim and can't find anything. I need it for a presentation and am a little up the creek. I just want the rough figure for a non-fatal claim or just the overall average.

Answer 1

Your question doesn't make sense. Do you want to know how much the premiums are for an employer to carry worker comp insurance or do you want to know the average amount awarded to an individual who receives work comp?

Answer 2

Well lets take your broken arm question.

Does the arm require surgery?

Did the claimant lose time from work because of the injury?

How many follow ups are needed?

How many therapy sessions are there?

Is the claim compensable?

A non-surgical arm claim could cost anywhere between $2500-$30,000 depending on the extent of the injury.

Work comp is devised into four different parts.

-Medical only (MO) claims are claims where the claimant does not miss time from work at all. Some states allow a waiting period such as a three day waiting policy so if the person missed the first 3 days of work and returns on the 4th day, no lost time is owed.  MO claims are generally the cheapest and easiest to close up.

-MO claim with PPD, no lost time is owed, but there might be a loss of a function of the body.

-Lost time claims are claims where the injured claimant does miss time from work, more than the required waiting period.  This can be expensive depending on the circumstances of the case.

-Lost time claim with permanent partial disability (PPD), permanent total disability (PTD). PPD is a certain percentage that the claimant lost on the injury, such as a amputee or a surgical canidate, they are likely to lose some kind of function of that particular body part.  PTD is used for somebody who is unable to work for their lives, such as a quadlepeligic.  PPD can be expensive with the lost time.  PTD is very expensive these can run in the half million plus.

-Fatality claims-expensive but not as bad as one in a PTD situation.  In some cases that I've seen and as bad as this sounds sometimes you want that claimant to pass away because that person will never be able to enjoy life like they used to.  It sounds cold but seeing it from both parties side...

hope this helps.

Answer 3

You want how much the average broken ARM costs?

There IS no average WC claim.  There are a BUNCH that are "notice only" or "medical only".  Then there is the occasional massive hit, in six figures.  The average is going to vary by industry, also - there's no "average industry".

You can't find it, because there's no such horse.  It's not dependent on the insurance policy.