20 Florida Pool Prosm • December 2023 FSPA CHAPTER NEWS INSURANCE UPDATE decrease in 2021, and a 5.7 percent cut in 2020. According to written testimony by NCCI officials, much of the decrease, 13.6 percent, is the result of loss experience, trends and benefits paid to injured workers in 2020 and 2021 as of year-end 2022. Florida’s medical costs are expected to rise due to recent medical fee schedule updates, finally allowed after years of debate. The state Department of Administrative Hearings in May dismissed a challenge from Zenith Insurance Co. and others that argued that parts of the reimbursement plan approved by the Division of Workers’ Compensation was out of line with other states and fees are based on inflated hospital charges, not actual payments accepted by the providers. Florida’s experience, in other ways, reflects trends seen across the country. “On a countrywide basis, there was a notable rise in claim costs for 2022, with medical claim costs increasing about 5 percent and indemnity claim costs rising about 6 percent year over year,” the NCCI summary reads. “The workers’ compensation system continues to be healthy. Countrywide, lost-time claims, MADE IN THE USA w w w . p u r i t y p o o l . c o m FAMILIAR FAVORITES FULL SELECTION OF LEAF RAKES STAIN REMOVERS & TILE SCRUBBERS New! PELICAN FEATHERWEIGHT TRASH COLLECTOR SPA SCOOP Red Baron ULTRA-LITE GATOR Pro-Lite Fast & Easy Replacement Parts! Choose From:
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