Guest Column from Pat LeMire, M3 Insurance

Effective October 1, 2023 Wisconsin Workers Compensation rates will be decreasing again, with an overall decrease in Wisconsin by an average of 8.39%. Senior Living providers fared even better, with specific class code rates listed below:

According to the WCRI CompScope Benchmarks for WI (23^rd Edition), Wisconsin remains as the state with the highest medical costs for workers compensation in the nation. However, given lower utilization since the pandemic, in addition to Wisconsin being amongst one of the lowest states in the nation for indemnity benefits and litigation expenses, total claims costs stayed fairly constant.

The pandemic continues to affect existing workers compensation claims and the timing for closure with the backlog of litigated claims. In 2021, the Division of Hearings and Appeals had 2,300 cases waiting to be scheduled for hearing, where a typical year consists of 800 cases a year. In October, 2022 the Division was down to 1,200 cases waiting to be scheduled for hearing, contributing to the ongoing delays.

A notable change starting July 1^st, 2023, new COVID-19 workers compensation claims will no longer be coded as an Extraordinary Loss Event, and will now be attributed in an organization’s Workers’ Compensation experience modification factor.

Post-pandemic, telehealth continues to be an advantageous approach for employers to give employees proficient treatment. 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.

With the current staffing crisis, coupled with the mental health crisis, focus on the total well-being of the employee remains an important measure. Integrating workers compensation program with other workplace benefits, such as a robust employer assistance program (EAP) as part of the workers’ comp process, can lead to a safer work environment and better employee engagement. Bear in mind, each organization’s approach may be different, driven by their social determinants of health (SDOH), nevertheless, can strengthen employee satisfaction.

Pat LeMire is a senior account executive and partner at M3 Insurance. His primary role is to work with skilled nursing and assisted living facilities, evaluating their operations and partnering with them to manage their property and casualty program. M3 Insurance is a WHCA/WiCAL Elite Premier Business Partner. 

Connect with Pat: 608.288.2807 | pat.lemire@m3ins.com