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Average Employer Assessment Rate Remains Stable for 2015
Thursday, October 30, 2014

St. John’s, NL The Workplace Health, Safety and Compensation Commission announced today that the average assessment rate for employers will remain at $2.45 per $100 of assessable payroll. Also, the Maximum Compensable and Assessable Earnings (MCAE) will increase to $61,615. Both are effective January 1, 2015.  

The rates for approximately 50 per cent of employers will see a decrease or stay the same, while the rates for approximately 50 per cent will increase.  

Assessment rates are premiums paid by employers to cover anticipated costs of workplace injuries, return-to-work programs, prevention initiatives and the cost of administering the workers’ compensation system.  

The assessment rate continues to include a $0.25 surcharge. According to the Commission’s funding policy, this surcharge can be eliminated when the funded position reaches 110 per cent. The funded ratio as of December 31, 2013, was 106.6 per cent.  

The increase in the MCAE reflects a 1.4 per cent increase in the Consumer Price Index (CPI). Any injured worker whose pre-injury earnings are at or above the new maximum compensable limit will be compensated based on the new limit effective January 1, 2015.  

Starting today, employers will be notified, in writing, of their assessment rate for the upcoming year. For 2015, an employer’s total assessment premium will be based on their industry’s 2015 assessment rate, their workers’ assessable earnings factoring in the new MCAE and their individual health and safety practices and claim cost experience under the PRIME program.  

A complete listing of the Classification of Industries and Assessment Rates – 2015 can be found in the Publications section of the Commission’s website at www.whscc.nl.ca.  

About the Workplace Health, Safety and Compensation Commission

Serving approximately 13,000 injured workers and more than 19,000 employers, the Commission is an employer-funded, no fault insurance system that promotes safe and healthy workplaces, provides return-to-work programs and offers fair compensation to injured workers and their dependents.

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Media contact:

Carla Riggs, Director of Communications
Workplace Health, Safety and Compensation Commission

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