As many employers across Canada wonder how the business economy will fair in 2014, Manitoba employers recently received some positive news.
The average WCB assessment rate in Manitoba will remain stable at $1.50 per $100.00 of assessable payroll effective January 1, 2014, maintaining one of the lowest average rates in Canada. WCB officials say Manitoba employers can depend on stable and predictable assessment rates in 2014 for WCB workplace injury coverage, including wage loss payments, medical benefits and rehabilitation services.
Overall, about 38 percent of employers will pay lower WCB assessment rates in 2014, while 13 percent will pay more and 49 per cent will not see a change in their rates. Those employers with consistently low injury experience will pay the lowest rates within their industry.
Rates Prove Competitive Advantage for Employers
“Our rates are a competitive advantage for Manitoba employers,” stated Winston Maharaj, WCB president and CEO. “The fact that most employers will either see a decrease in their rates or no increase tells us that our message of workplace safety is being heard.”
Maharaj adds that employers can help reduce assessment rates by improving health and safety at their workplaces and strengthening return to work programs.
“Employers play a critical role in working with injured workers to develop return to work programs,” added Maharaj. “By promoting injury prevention and reduction, employers are not only investing in the welfare of their workers but also helping to reduce their business costs.”
The gradual increase in the maximum assessable earnings cap also continues, with the 2014 ceiling set at $119,000.
Author Kori Shafer-Stack, Editor, Amaxx Risk Solutions, Inc. is an expert in post-injury response procedures and part of the Amaxx team helping companies reduce their workers compensation costs by 20% to 50%. www.reduceyourworkerscomp.com. Contact: firstname.lastname@example.org.
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