A business group that focuses on workers' compensation and unemployment released its
Washington, D.C. – UWC's National Foundation for Unemployment Compensation and Workers' Compensation announced today the release of the Foundation's annual bulletin ranking states by workers' compensation cost, entitled Fiscal Data for State Workers' Compensation Systems, 1993 – 2003. Noting that "employers and public policymakers need comparative statistics on state workers' compensation costs," Eric Oxfeld, President of UWC and its National Foundation, explained that the bulletin makes it easy to see state cost trends at a glance.
The Fiscal Data Bulletin for State Workers' Compensation Systems provides the latest information available and is routinely used by employers and government officials to assess costs. The bulletin ranks states using the "benefit cost rate" (total benefits per $100 of payroll). Its 37 tables include information on total benefits paid; a breakdown between cash benefits and payments for medical care; and the market share for insurance, self-insurance, and state insurance funds. Figures are provided for 2002 and each year back to 1993.
"The economic burden of workers' compensation continues to vary greatly by state," Oxfeld said, "and the growth of spending on medical benefits is a universal problem." Medical benefits increased more than 3 times faster than cash benefits between 2002 and 2003 and are up by $8.76 billion, almost 55%, between 1996 and 2003.
"State rankings have been extremely volatile over the last 10 years," Oxfeld noted. "Colorado and Rhode Island improved their rank the most, while the District of Columbia and Virginia once again topped the chart for low costs, and West Virginia and California continued to anchor the bottom," he continued. However, he cautioned that "it may be several years before the results from recent California and West Virginia reforms affect their standing compared to other states."
Electronic copies are available at no charge to UWC Members, online at http://www.UWCstrategy.org/Members/index.shtml.
Print copies are available for $20 for UWC members and $25 for nonmembers (includes shipping and handling). Print out an order form from the UWC website at http://www.UWCstrategy.org. Click on "Book Shop" and then "Other National Foundation Publications." Or go to the "Online Bookshop" to order electronically by credit card. Call (202) 637-3464 to place an order by phone.
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UWC is the only national association devoted exclusively to providing legislative and regulatory representation for the business community on workers' compensation and unemployment insurance issues. UWC established the National Foundation in 1984 to research, analyze, and collect data and carry out educational activities related to workers' compensation and unemployment compensation. The Fiscal Data Bulletin is an example of this research, and the commitment of UWC and the National Foundation to the business community.
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