Human Resources Legislative Update
WSIB Rate Framework Policies Finalized
Date: June 26, 2018
The Workplace Safety and Insurance Board (WSIB) has finalized the following core policies which will support the new Rate Framework, to be implemented on January 1, 2020:
The Classification Structure
Single or Multiple Premium Rates
Employer Level Premium Rate Setting
Employer Premium Adjustment
As previously reported, the WSIB held public consultations from August 14, 2017 to January 15, 2018 with a view to receiving stakeholder feedback on the Rate Framework draft policies, which were originally approved by the WSIB Board of Directors on November 14, 2016. When they become effective, these core policies will replace the current policies regarding classification, rate setting and retroactive experience rating, among others.
Of note is that the new Employer Level Premium Rate Setting policy (Operational Policy Manual 14-02-01) will replace the current policies on the Merit Adjusted Premium Program (MAP), New Experimental Experiment Rating Plan (NEER), and Construction Industry Plan (CAD-7). The new policy introduces a uniform two-step model to set premium rates for Schedule 1 employers.
The Rate Framework will fundamentally change the way the WSIB classifies Schedule 1 employers and sets their premium rates.