Enhancements to Workplace Health, Safety and Compensation regulations are expected to see increased benefits to injured workers in the province, and reduced assessment rates from employers, the provincial government announced today.
Changes come into effect Jan. 1.
A news release states the Maximum Compensable and Assessable Earnings (MCAE) for injured workers will increase to $60,760, which includes a base increase of $6,000 plus the annual Consumer Price Index (CPI) adjustment of one per cent.
In addition, the average base assessment rate for employers will be reduced by $0.30 to $2.45 per $100 of assessable payroll for 2014. Approximately 99.8 per cent of employers will see a decrease in their assessment rates in 2014.
“We believe that these changes reflect a balanced approach by considering the needs of both workers and employers, while also being financially responsible with the injury fund,” said the commission’s chair Ralph Tucker.
“The board is pleased with the progress of the commission and proud that workplaces are becoming safer through the efforts of Newfoundlanders and Labradorians, workers and employers alike.”
Injured workers submitting new claims with injury dates on or after Jan. 1, 2014, will be eligible to be compensated up to the new limit of $60,760, depending upon their pre-injury earnings.
For employers, the MCAE increase applies to assessments on individuals with annual gross earnings at or above the previous MCAE of $54,155. At the average assessment rate of $2.45, to increase the maximum limit by $6,000, the increment in insurance will cost these employers less than $150 per year, per worker. This may be offset by the reduction in their assessment rate.
This decrease in the assessment rate is an average. Individual employers will continue to have different assessment rates depending upon their industry and workplace injury experience.