The American workforce is aging, but the impact that having more employees in their 50s and 60s will have on workers’ compensation loss costs may not be as negative as originally thought, according to new research from the National Council on Compensation Insurance Inc. (NCCI).
In a report, “Workers Compensation and the Aging Workforce,” NCCI says older workers do generally tend to have higher loss costs per worker—but only if “older” is very broadly defined.
“All groups of workers age 35 to 64 appear to have similar costs per worker,” says NCCI. The report adds, “Workers 20 to 24 have markedly lower severities and loss costs, and workers 25 to 34 fall in the middle.”
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