National – The National Council on Compensation Insurance (NCCI) released two reports and a new interactive legislative activity map this week:
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- 2024 Workers’ Compensation Financial Results Update details the financial outcomes for workers’ compensation insurance in 2023 and offers preliminary insights for 2024. According to NCCI’s initial analysis for the first half of 2024, there is a nearly 1% decline in private carrier direct written premium (DWP) compared to the first half of 2023.
- October 2024 Medical Inflation Insights Report and Workers Compensation Weighted Medical Price Index (WCWMI) aim to provide a quarterly overview of the insights and analysis of price changes and how these changes may impact the workers’ compensation field.
- The interactive legislative activity map is a part of NCCI’s efforts to provide workers’ compensation information by state on the legislative arena. The map consists of all 50 states and monitors relevant workers’ compensation related bills in all jurisdictions and has a map dedicated to the federal government.
Healthsystems released their twice-annual industry journal, RXInformer. Designed as a guide for workers’ comp stakeholders, RXInformer addresses the industry’s most pressing topics. The Winter 2024-25 edition explores emerging issues in workers’ compensation healthcare, including the influence of cardiovascular comorbidities on prescription drug management for injured workers, cybersecurity challenges, and the significant impact of high-cost drugs on overall prescription drug expenditures.
New Jersey – This month, State Senator Angela McKnight (D) introduced S 3796, a bill designed to tackle staffing shortages in nursing homes. S 3796 authorizes certified medication aides to administer medication to residents, a task they were previously restricted from performing.
Pennsylvania – SB 1232 was presented to the Governor. As a reminder, the bill, if passed, would make direct deposit the default method for paying workers’ compensation benefits. Specifically, the bill would allow insurers and self-insured employers to offer direct deposits and after a year, they would be required to use direct deposit unless the injured worker requests otherwise.
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