In regulatory news:

The Social Security Administration (SSA) has issued a proposal stipulating that workers’ comp benefits be reported annually to the agency, much like the reporting requirements for the Centers of Medicare and Medicaid Services (CMS) post-2009. If the rules proceed as proposed, the additional reporting is likely to generate increases in both general costs and paperwork for employers and insurers. According to a Business Insurance report, the mandate is a single paragraph in the SSA’s proposed fiscal 2016 budget published in February. The administration says it would require “states, local governments and private insurers that administer” workers comp and public disability benefits to report data on those benefits to the administration. SSA would apparently “provide for the development and implementation of a system to collect such information from states, local governments and insurers.”

The current system requires claimants to disclose workers’ comp benefits as part of the application for Social Security disability benefits. Proponents of the shift in reporting burden say that insurers and employers are likely to be more accurate in their reporting and thus, fraud and improper payments in the Social Security system could be reduced.

Read full coverage from Business Insurance here.

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