Reporting Claims Later Can Double the Cost, Report Finds

| posted in Blog

A new report has found that when employers are late in reporting workers’ comp claims to their insurers, the cost of the claim often jumps by 50%. The report by the National Council on Compensation Insurance found that claims for workplace injuries that were reported four weeks after the incident, ended up costing $19,936 on average, compared to $13,210 for claims reported one to two weeks after the injury. That’s a jump of 51%. Interestingly, claims that were reported between one day and a week after the injury cost $13,844 on average. Claims filed three to four weeks after an…
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