The final rule establishing when and how penalties will be assessed for carriers and self-insured employers who fail to properly report claims to Medicare is now out and set to take effect on December 11, 2023. The final regulation, however, gives the regulated public a year before fines can kick in, which will give them …
The number of self-insured groups (SIGs) in California’s workers’ comp industry remained steady at 25 last year, but the number of employers covered by the groups was down last year for the third year. Total covered payroll was up 8% to top $7 billion. The statistics cover the 2022 calendar year results. The change in …
Those California private sector employers who self-insure their workers’ comp obligations saw an uptick in reported claims last year, with the increase outpacing overall employment growth among the self-insureds. The private employers reported 104,278 workers’ comp claims last year, with a relatively even split between indemnity and medical-only claims. The total reported claims are up …
California’s excess workers’ compensation insurance market grew by 6% to nearly $234 million in written premium last year. The increase, though, is roughly half the 11.7% increase the general workers’ comp market saw last year as wage inflation and expanding payrolls boosted premium. Self-insured employers, self-insured groups (SIGs), and self-insured public entities buy excess workers’ …
The California Self-Insurers’ Security Fund continues to see a steady drop in its workers’ comp claim counts and liabilities as the pace of new defaults remains low to non-existent. The security fund did not absorb any new estates last year or the year before after taking over one each year in 2021, 2020, and 2019. …
California Governor Gavin Newsom delivered a proposed $297 billion state budget for the 2023-24 fiscal year that includes nearly $1.4 billion in funding for the Department of Industrial Relations (DIR). The Governor’s proposal includes roughly $450 million in additional funding than what was in his original proposal a year ago. Last year, the original proposed …
The California Agricultural Network (CAN), a self-insured group for the AG industry, is suing a former member company and its former owner. The group seeks to recover some $3 million for workers’ comp claims the SIG inherited after the grower closed down. The group claims it was not informed of a change in ownership at …
The board of directors for the San Benito Health Care District declared a fiscal emergency. It gave district officials the authority to file a Chapter 9 bankruptcy petition with the U.S. Bankruptcy Court for the Northern District of California. The District operates the 25-bed Hazel Hawkins Memorial Hospital in Hollister and is self-insured for its …