WCRI Report Shows Medical, Indemnity Have Stabilized Since 2007 Reform

New York stakeholders often talk about the 2007 legislative reforms as a turning point in workers' compensation, spelling out changes designed to boost near-term benefits for employees but saving businesses and insurers over the long haul. A new study from the Workers Compensation Research Institute seems to bear that out, finding that the full effect of the 2007 reforms didn't kick in until 2014. Since then, medical costs and indemnity benefits have mostly stabilized. “The stability in total costs per claim in New York since 2014 followed growth of 6% to 7% per year f...