The National Council on Compensation Insurance is recommending a 3.2% overall rate level increase for Indiana's voluntary and assigned-risk markets in 2016.
The Indiana Compensation Rating Bureau sent the NCCI filing to the Insurance Department for approval Sept. 21. The recommended increase follows a 3.7% decrease in 2015 and a 7.7% decrease in 2014.
Average medical costs, which account for 75% of benefits paid in the Hoosier State, have increased steadily since 2006, according to the NCCI filing. The average medical cost per claim was $35,953 in 2013, 6.1% more than the average of $33,...
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