WCB lowering 2015 premium rates for most employers

REGINA – Most companies in the province could be paying less in WCB premiums in 2015 after the Saskatchewan Workers’ Compensation Board (WCB) proposed a 3.3 per cent drop to its average 2014 rate.

The board said better safety performance records in 33 of 50 industries had a positive impact on the rates for next year.

“In a very real sense, Saskatchewan employers and workers earned the 2015 rate reduction by preventing injuries and through return to work programs that can shorten the duration of an injury,” said board chairperson Gordon Dobrowolsky.

WCB said the average decrease was driven by two factors – payroll growth and less workplace injuries.

“In 2013, 86 per cent of Saskatchewan employers achieved Mission: Zero. There were over 38,000 workplaces with zero workplace injuries,” said WCB CEO Peter Federko.

“This premium rate reduction is a direct result of fewer injuries, growing payroll and effective return-to-work programs.”

If approved, the rate will drop from $1.51 to $1.46 per hundred dollars of payroll, the eighth straight drop in average premiums and the lowest level since 1986.

In 2004, the average premium was $2.04.

Although rates are dropping, Federko cautioned that “trends can quickly become reversed.”

While our total injury rate continues to decline, we are forecasting a slight increase in time loss claims in 2014. This is a good reminder that, while premium rates are declining, we cannot become complacent when it comes to injury prevention.”

WCB will be holding a series of meetings in Regina and Saskatoon over the coming week to outline rate changes.

2015 WCB rate proposal

– Premiums for 37,060 employers in 33 rate codes will drop, which represents 79 per cent of employers registered with the WCB. The decreases range from 0.5 to 14.5 per cent, with an average decrease of 5.4 percent.

– Premiums for 5,066 employers in 12 rate codes will increase next year, representing 11 per cent of registered employers. All increases are under 10.5 per cent, with the average increase 3.9 per cent.

– Premiums for employers in five rate codes remain the same.