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Workers Compensation Claims
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Workers Compensation Cost Update
Fiscal Year # of Claims Total Incurred 562 $ ,774,397 587 $ ,995,472 604 $ ,942,535 586 $ ,332,903 $ ,378,969 610 $ ,639,601 Grand Total 3535 $ ,063,877 *Johns Eastern Claims Data as of
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Workers Compensation 6-Years (FY2011 -16)
Claim Type # of Claims Total Incurred Cost Indemnity 882 $ ,096,212 Medical 2653 $ ,967,665 Report Only 156 $ Grand Total 3691 $ ,063,877 Lost Time Claims – 25% of Claims and 85% of Total Incurred Cost
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Workers’ Compensation Claims Cost Maturing of Claim - Development of the Cost
Fiscal Year # of Claims 2015 Total Incurred Cost 2016 Total Incurred Cost – 562 $ 2,774,397 587 $ 2,957,539 $ 2,995,472 604 $ 4,682,387 $ 5,995,472 586 $ 4,623,253 $ 5,332,903 $ 5,279,157 $ 5,378,969 610 $ 4,413,270 $ 4,639,,601 Grand Total 3535 $ 21,955,606 $27,063,877 *Claims Data as of Johns Eastern Data – 8/2016
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Opportunities for NEFEC – Last Year Slide
Importance of Reducing Severity of Claims (Lost Time Claims) % of Lost Time /Total Claims Status Claim Cost Cost Savings Opportunity FY 2010 – 2014 = 27% Current $19,038,063 FY 2010 – 2014 = 20% Industry Avg. $15,121,348 $ 3,916,715 FY = 15% Stretch Goal $12,183,476 $ 6,854,557
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School District Breakout WC Claims – Fy2011-16
Division Name # of Claims Total Incurred % of Cost Avg. Claim Cost Hernando County School Board 980 $ ,369,187 20% $ ,479 Putnam County School Board 587 $ ,625,977 21% $ ,584 Flagler County School District 563 $ ,935,132 15% $ ,990 Nassau County School Board 346 $ ,298,667 8% $ ,644 Columbia County School Board 303 $ ,300,188 $ ,591 Levy County School Board 180 $ ,464,131 5% $ ,134 Bradford County Board of Public Ins 137 $ ,200,469 $ ,062 Baker County Public School Board 125 $ ,000,494 4% $ ,004 Gilchrist County School Board 92 $ ,019 2% $ ,239 Hamilton County School Board 69 $ ,147,422 $ ,629 Dixie County School Board 68 $ ,608 3% $ ,421 Union County School Board 61 $ ,873 1% $ ,260 Florida Virtual High School 24 $ ,709 0% $ ,946 Grand Total 3535 $ ,063,877 100% $ ,983
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