The New Rate Framework will be implemented in about 6 months on January 1, 2020. The WSIB has indicated that they will be sending out a Premium Summary Report to all employers during the end of September 2019. This report will provide you with your 2020 projected and actual premium rates. It will also include an explanation of how these rates are determined.
To find out more information on the new WSIB Rate Framework model, please visit the WSIB website: https://www.wsib.ca/en/businesses/premiums-and-payment/rate-framework
If you have any questions regarding the New Rate Framework or your current experience rating please please contact us. Our team of Licensed Paralegals can provide your organization expert WSIB advice, and discuss how this new Rate Framework will impact your organization.