June, 2020 | WSIB PREMIUM RATE UPDATE
Effective 2020, the WSIB moved to a prospective experience rating program for employer’s claims resulting in an annually fluctuating premium rate. To help employers understand their current 2020 premium and to forecast the 2021 rate, my office is offering an analysis and report explaining the answers to those questions.
What is required to forecast your 2021 premium is easiest accessed with your WSIB on-line account or if you prefer, you can forward the information to my office via email. Access to the following documents will be required:
· Accident Cost Statements January to December 2019
· Claim Detail Statement for 2020
· Extended Premium Rate Statement for 2020
· NEER statements for September 2019 and March 2020
A report will be generated that includes:
· NEER September 2020 rebate/surcharge projection
· Premium Rate summary review for 2020
· Premium Rate Projection for 2021 (and future years)
· Premium Rate Drivers Analysis
This service is offered at the cost of $1,000.00 plus HST billed by my office. Please let me know if you are interested. The report will assist your finance department in knowing what the costs can be expected for 2021 premiums. Remember, this is the final year the NEER program will run.
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