Medicare Set-asides: The Next Major Workers’ Comp Cost Driver

As America's workforce gets older, it will have a significant impact on the cost structure of the workers' comp system due to requirements that insurers set aside large sums for medical outlays covered by Medicare. That's because the costs of claims involving injured workers who are near or older than retirement age tend to skyrocket. This issue could be the next major cost driver in workers' comp as more baby boomers, nearing retirement age, opt to stay in the workforce. Federal law requires that Medicare approve claims settlements of $25,000 or more for injured workers who are Medicare beneficiaries, who…

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