Falling medical costs in California workers’ compensation system that helped drive down the advisory pure premium rate over the past several years might be coming to an end.
Medical costs fell by an average of 5% per year from 2011 through 2015, when the trend reversed and medical started increasing by 3% per year. The Workers' Compensation Insurance Rating Bureau’s latest filing assumes that medical costs will continue to increase at that 3% annual rate.
But WCIRB Chief Actuary and Executive Vice President Dave Bellusci said the first look at 2017 da...
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