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New Workers' Compensation Study: New York's Statistics

Earlier this month, the National Academy of Social Insurance (NASI) released their 2010 study of welfare benefits programs. The study showed some interesting data on New York's workers' compensation benefits.

Of particular importance is that in 2008 the state's workers' compensation benefits rose 12.7 percent from 2007, reaching $3,536,944. There could be many different reasons for this elevated number - one being the recession. The state's economic woes may have created an increase in claimants because of job instability. Where a tough-minded employee may have silently fought through a workplace injury in 2007, as the recession hit, that same employee may have taken the workers' compensation benefits as a sure source of income in an unstable job market.

Another explanation is supported by more statistics provided by NASI. Data shows an enormous increase in New York workers' comp medical benefits. In 2008, medical payouts skyrocketed to nearly 60 percent more than in 2007. Medical benefits, at $1,803,841, topped cash benefits for the first time in the 'Empire State.'

This isn't just a trend in New York. Nationally, medical benefits accounted for 50.4 of all workers' comp benefits, exceeding cash benefits for the first time ever. This historic shift occurred because more people sought medical treatment while the cost of medical care rose (8.8 percent nationally).

While the 2009 data won't be available for another year, it is likely that New York's workers' comp benefits will continue to climb as the recession lingers and medical costs continue surging upward.

If you have been injured while working, it is crucial to contact an experienced personal injury attorney experienced in workers' compensation. Sometimes, workers' compensation isn't the injured person's only means of recovery - there could be potential claims against third parties that caused the injury. Contact a lawyer for more information.

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