If you’ve billed any claims through the Workplace Safety and Insurance Board payment program during February and March 2021, then you can expect a slight increase on those claims. The increase comes from an agreement that was made through the Workplace Safety and Insurance Board and the ministry of health (OHIP), in which they agreed that Ontario physicians needed compensation increases related to the 2019 Kaplan Board of Arbitration Award (Award).
This means that any claims you may have billed through the WSIB program will be adjusted to reflect the prices outlined in Section 21(a) of the Binding Arbitration Framework in accordance with the award.
Retroactive Increases to WSIB Payments
For any claims you’ve billed through WSIB during the mentioned periods below, you’ll receive the dollar amount specific to that year’s increase. Year 1 and year 2 claims were paid on February’s remittance report while year 3 claims were paid on your March remittance report.
|Year||Compensation Increase||Remittance Advice month|
|Year 1 (2017/18)||0.7500%||March|
|Year 2 (2018/19)||2.0094%||March|
|Year 3 (2019/20)||2.5194%||February|
On your February remittance report, you should have seen a payment increase for all WSIB claims for 2.5194%. On your March remittance report, you should have seen two summaries, one for year 1 (2017/2018), which had an increase of 0.7500% and one for year two (2018/2019), which had an increase of 2.0094%.
If you have any questions about these increases, don’t hesitate to reach out to our team.
This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.
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