Now Is Not The Time To Increase Workers’ Compensation Benefits
Opinion: Proposed worker’s compensation changes will hurt businesses and it’s dangerous to implement them when many are just starting to recover from the Covid-19 pandemic.
Opinion: Proposed worker’s compensation changes will hurt businesses and it’s dangerous to implement them when many are just starting to recover from the Covid-19 pandemic.
Increasing the percentage paid for loss of earning benefits from 85 to 90 percent and boosting the maximum annual earnings threshold so more workers have their full wages covered are possible changes.
The 2019 average assessment rate will be $2.92 per $100 of payroll compared to the 2018 rate of $1.70.
John Bourque wants to know why N.B. businesses are dealing with a 150 per cent increase when every other province saw their workers compensation rates go down in the last two years.
We all have a stake in the system and all employees and employers should be highly incentivized to ensure that the system is efficient and sustainable. At this point in time, it is clear that it is neither.
Saint John Region Chamber of Commerce CEO David Duplisea says the increase to workers’ compensation rates will hurt New Brunswick businesses.
Last week, employers who fund the workers’ compensation system and employees who receive benefits received a very bleak and alarming forecast.
The increase was necessary because of rising claim costs, said WorkSafeNB’s acting president and CEO.