Achieving Better Outcomes for Injured Workers and Cost Savings

Texas is widely recognized for the outstanding performance of its workers' compensation system, and the Oklahoma workers' compensation system has dramatically improved in the past two years. Nevertheless, the data presented in a new report titled. "Options to Workers' Compensation: Positive Outcomes for Injured Workers and Employers," shows that Texas Option injury benefit plans, when compared to workers' compensation, result in:

• Shorter disability durations,
• Faster return to work, and
• Fewer claim disputes.

Texas Option programs also result in:

• Lower total employer cost,
• Comparable defense litigation costs, and
• Faster claim payouts and closure.

This is a good faith snapshot of Option industry results.  Data collection and reporting efforts in the Option environment are in an early state of development, but can be expected to steadily advance. Option programs should not be held to a standard higher than workers' compensation systems.  Workers' compensation principally relies on data reporting from non-governmental organizations that have had decades to organize, obtain many millions of dollars in funding for, and publish data, Similar, expanded Option industry data reports, reviewed by independent actuaries, are expected in 2016