Are employers prepared to support their aging workforce?
As the American workforce continues to age, employers face a major shift in the dynamics of workplace injury risks and costs.
While older workers bring critical experience, reliability, and institutional knowledge, they also present new challenges for employers and insurers in the form of higher workers’ compensation claim severity, longer recovery durations, and more complex medical needs.
This rise in cost and complexity is driving the industry to rethink how it manages older workers’ claims. Experts pointed to long-term demographic trends and rising medical complexities as converging forces in the workers’ compensation landscape.
“We’re going to see many more workers aged 55 and older in the workforce by 2033,” said Claude Howard (picture…