Thank you to WHCA/WiCAL Elite Premier Business Partner, M3 Insurance, and Pat LeMire, Senior Account Executive/Partner, for providing the below information on Workers Compensation rates.

Effective October 1, 2022 Wisconsin Workers Compensation rates will be decreasing again, with an overall decrease in Wisconsin by an average of 8.47%. Senior Living providers fared even better, with specific class code rates listed below:

Given the unusual circumstances, the Wisconsin Workers’ Compensation Rating Bureau (WCRB) amended the ratemaking methodology again this year. Utilizing the 2018-2020 policy years, the WCRB weighted 2018 & 2019 at 40%, with 2020 at 20%, in order to mitigate the potential impact of COVID-19 claims. Moreover, the frequency of claims is down for the 15^th straight year.

COVID-19 claims will continue to be coded as an Extraordinary Loss Event and will not impact an organization’s Workers’ Compensation experience modification factor. However, the pandemic continues to affect existing and new workers compensation claims due to changes in the availability for medical treatment.

Wisconsin remains as the state with the highest medical costs for workers compensation in the nation, however medical costs did decrease by 2% according to the 2020/2021 WCRI CompScope Benchmarks for WI (22^nd Edition). The report also indicates that indemnity increased by 4% during the period resulting in total cost of claims remaining the same.

While some employers were implementing Telehealth pre-pandemic, many organizations saw Telehealth emerge as a key strategy throughout the pandemic to give employees proficient treatment. Key benefits of telehealth for work related injuries include: reduced interruptions for employee and less time away from work, support for first-aid and immediate treatment and, when necessary, assistance getting employees to the most appropriate medical provider.

Another trend impacting performance is a reinvigorated focus on the total well-being of the employee, especially due to the staffing crisis, both at the caregiver and leadership levels. Employers are taking a holistic approach by integrating their workers compensation program with other workplace benefits, such as integrating a robust employer assistance program (EAP) as part of the workers’ comp process. While each organization’s approach may be different, by aligning a worksite benefit package with your employees’ needs, driven by their social determinants of health, it can lead to a safer work environment and better employee engagement.