Workers aged 60 or more years are injured less often on the job than workers in most other age groups, but their injuries cost the most to treat. That’s according to a report from insurance company Travelers.
According to the data, costs for injured employees 60 or older were 15% more than for injuries for employees aged 35 to 49 and approximately 140% more than costs for injuries for workers aged 18 to 24.
“This is especially significant as the number of older employees in the workforce is growing,
trend that is expected to continue. In fact, the US Bureau of Labor Statistics projects the number of people in the workforce who are 65 and older will account for more than 60% of the growth in the labor force over the 2020-2030 decade,” according to the report.
On average, 2.8 workers out of every 100 in the US are injured every year, according to data from the Bureau of Labor Statistics. The highest incidences of workplace accidents are predominantly found in the northern states, according to a previous analysis from High Rise Financial.
“As employers navigate turnover and a multi-generational workforce, it’s important that they stay aware of the risks that come with changing worker demographics so they can help keep employees safe and businesses running,” Rich Ives, vice president of business insurance claims at Travelers, said in a statement.
Employees in their first year on a job, regardless of their age or industry experience, represented more than one-third (34%) of all claims and accounted for almost 7 million missed work days due to injury, according to Travelers.
“The data clearly highlights two populations to watch when it comes to workplace injuries: new and aging employees,” Ives said.
Travelers analyzed more than 1.2 million workers compensation claims it received between 2016 and 2020 from a variety of industries and business sizes. Findings were based solely on indemnity claims, where the injured employees could not immediately return to work and incurred medical costs. The analysis shows those injured on the job miss an average of 71 workdays.
“Understanding who is getting injured, what causes may be leading to these injuries and what the costs are, including time away from work, can help inform the processes and training programs employers put in place to help keep their employees safe and their businesses running,” according to Travelers.
Meanwhile, the Department of Labor last week released the final version of a rule that could mean additional reporting requirements for some senior living and nursing home providers starting in January.
The rule, by the department’s Occupational Safety and Health Administration, is meant to improve tracking of workplace injuries and illnesses. Specifically, OSHA is amending its regulation to require establishments with 100 or more employees in certain industries to electronically submit information from their Forms 300 and 301 to the agency once a year. Among those affected are skilled nursing facilities, assisted living communities, continuing care retirement / life plan communities and other residential care facilities.
