Greetings,  a few year-end news, notes and reminders:

1. The State of Florida has released the Max Comp rate for 2024:

“The maximum weekly compensation rate for work-related injuries and illnesses occurring on or after January 1, 2024 shall be $1,260.”

https://www.myfloridacfo.com/docs-sf/workers-compensation-libraries/workers-comp-documents/bulletins/max-comp-rate-2024-information-bulletin.pdf

That’s a $63 increase from 2023’s rate of $1,197.  This affects claims with a date of accident 1/1/24 or thereafter.

2. Reminder to increase your PTD supplemental benefits effective 1/1/24. 

For dates of accident from 10/1/2003 to the present, it’s a 3% increase, and PTD supplemental benefits ends at age 62 (for almost every claimant unless the accident prevented them from working enough to qualify for Social Security).

For dates of accident prior, it’s a 5% increase, and as far as end date, just email me, its messy.

3. SS Disability offsets end when claimant’s turn 62, so look ahead at your calendar year to make a note to stop the offset on their birthday if that is the case.

Sincerely,

Morgan Indek | Managing Partner