Indemnity claim severity returned to normal in 2021 while lost-time medical severity and claim frequency increased, according to the New Mexico Workers’ Compensation Administration's 2023 annual report, released Monday.
The report also notes a 15% reduction in total reimbursements for medical cannabis, which fell for the first time in 2022.
The WCA said in the report that indemnity claim severity returned to normal in 2021 following a spike in 2020 that it attributed to COVID-19 disruptions. Average indemnity claim costs increased to $31,800 in 2020 from $28,200 in 2019, then fell ...
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