For the first time since 2004, the Saskatchewan Workers’ Compensation Board has approved an average premium rate increase.

The 2022 average employer rate is $1.23 per hundred dollars of payroll.  The Saskatchewan Workers’ Compensation Board (WCB) has approved the 2022 average employer premium rate of $1.23 per hundred dollars of payroll.

The WCB’s CEO Phillip Germain says, “While the 2022 rate increase will affect most employers covered by the WCB, we are mitigating its impact by setting the average premium rate below the rate model requirement of $1.25. ”

He says the while the number of injury claims has gone down, claim-related costs like health care have increased more quickly than payroll. This difference is reflected in the premium rates.

He also says that what was a positive downward trend in claims experience over the last several years has flattened out and, in some cases, reversed.

The board’s decision to set the average premium rate below the rate model requirement of $1.25 is similar to its decision last year to hold the 2021 rate below the then-required rate $1.23 and WCB says it recognizes tough times due to COVID-19 employers are facing so by not charging the required premium rate in both 2021 and 2022, WCB calculates it is saving employers about $13.4 million in 2021 and $3.3 million in 2022.”