Happy Wednesday! In this week's Big I Buzz we discuss the optimism surrounding the Medicare trust fund, and the states with the highest workers' comp rates.

States With the Highest Workers' Comp Rates

A biennial survey conducted by the Oregon Department of Consumer & Business Services' Information Division revealed the states with the highest workers' comp costs based on the Workers' Compensation Index Rate, with Wisconsin coming in at #9. The index rate is tabulated per $100 of payroll and is the basis for determining final premiums for workers' compensation insurance. In 2023, workers' compensation had a strong year, continuing a decade of profitability for private carriers. Read more about the survey’s findings here.

What’s Behind the Optimism Surrounding the Medicare Trust Fund?

The Medicare Hospital Trust Fund is projected to remain solvent until 2036, five years longer than previously estimated, according to the 2024 Medicare Trustees Annual Report. This optimism stems from a 4.7% reduction in projected expenditures and a 3.2% increase in projected income for 2024-2033, attributed to economic growth and higher payroll taxes. Post-COVID-19, Medicare fee-for-service per capita spending has stabilized, and morbidity rates have improved among the Medicare-age population. Additionally, home health spending has decreased, and the end of the public health emergency waiver for skilled nursing services is expected to influence future Medicare cost projections. Read more here.

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list.