Average comp Medicare set-aside settlements increase in 2023

The average Medicare set-aside recommended by the Centers for Medicare and Medicaid’s Workers’ Compensation Review Contractor increased nearly 6% in the most recent fiscal year.

The average set-aside recommendation in the fiscal year that ended in June was $86,452.67, up 5.98% compared with the $81,571.75 average set-aside in the 2022 fiscal year.

The set-aside recommendations included an average $66,527.86 for medical treatment, up from $60,795.30, and an average $19,924.81 for prescription drugs, down from $20,776.46.

The average set-aside recommendation for the 15,743 claims reviewed in fiscal year 2023 was 21.95% higher than the average proposed set-aside of $70,887.33.

WorkCompCentral is a sister publication of Business Insurance. More stories here.