Workers Compensation Board’s Experience Rating Program Changes (Effective January 1, 2022)

Changes will soon come into effect for the Workers Compensation Board’s Experience Rating Program. The Experience Rating Program offers a financial incentive to employers to invest in safety and work disability prevention programs by adjusting assessment rates based on their claims cost history.

There are two main changes to the Experience Rating Program:

The new enhancements will encourage safety and proactive prevention of work disability, expand access to more employers and will see an adjustment to the formula used to calculate rates to limit the negative impact on small employers.

The changes are a result of an extensive program review to ensure it is effective, fair and easy to understand. As a result of the review, there are additional recommendations under consideration that could be introduced in the next phase.

The above changes to the Experience Rating Program will come into effect January 1, 2022.  To read more, check out the Frequently Asked Questions on the WCB website.

Source: Workers Compensation Board of PEI

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