Total SIBTF Costs Up 61%, Closing in on $200 Million

Total costs for California’s Subsequent Injuries Benefits Trust Fund of $197.6 million for the fiscal year ending in June were 61% higher than the $123.3 million paid one year earlier, according to a draft of the Commission on Health and Safety and Workers’ Compensation 2022 annual report. While administrative costs for the SIBTF fell in the last fiscal year to $1.6 million from $1.8 million and were the lowest since at least 2014, claim costs experienced the largest year-over-year increase for that same period. Total SIBTF claim costs of $196 million were up 61% compared to the ...