2020 Healthcare Benchmarking for Texas injury benefit programs reflects strong performance for injured workers, employers
October 26, 2020
Relying on the largest claims database for Texas injury benefit programs, PartnerSource performs biennial benchmarking studies within the healthcare, manufacturing, retail, trucking & distribution, restaurant, and hospitality industries. More than 100 large employers headquartered across the U.S. have participated in recent studies, representing over 600,000 covered Texas employees, tens of thousands of claims, and thousands of Texas business locations. Many of these programs have been in operation for over two decades.
Our latest report is the “2020 Texas Nonsubscriber Option Healthcare Benchmark Study”. Customized reports were released to participating employers in October. Here’s a snapshot:
Information used in this particular study includes:
- Incurred loss data over a five-year period, valued as of December 31, 2019
- 16,442 claims with value
- $39 million in incurred claim costs
- 2 defined subcategories for healthcare employers: Hospitals and Continuing Care
- Average cost per claim = $2,376
- Includes medical, disability and other benefits, legal liability settlements and judgments, and allocated loss adjustment expenses
- Average lost time claim = $8,340
- Average medical only claim = $1,178
- 13.5% of claims with lost time days, and 12.3 average days of disability
- 2020 Texas Injury Benefit Program Performance Report (including university studies)
- Recent program updates focused on fairness, coordination of benefits and fiduciary responsibility. Other recent updates have been made for ERISA disability benefit claim regulations and COVID-19 rules.
- Better Disability Benefits white paper
- Public Policy white paper
For more information, contact your PartnerSource Team Leader, Bill Minick, or Jennifer Hurless at email@example.com or 214-239-4586.