Thank you, Mr. Speaker. There are a number of factors at play here and I think the Members may be aware of a number of them. I have been receiving a number of queries on the 2004 assessment rates in my office, so what I have done is sent a letter to all Members of the Assembly to try to give them some background and some explanation as to why rates are increasing. For 2004, the rates are based on actual 2002 claims experience for that year and the average assessment rate will be $2.39 per $100 of assessable payroll. The board, though, will continue to subsidize by 20 percent those rates. So the average assessment rate will, in effect, the rate that employers will pay will be $1.91. I think it is important to keep that in mind, but obviously we know that the returns from investments over the past five years have not been what they were prior, and so the surplus has been diminished. As well as the 2002 claims experience, obviously the cost of claims has been going up as the cost of delivering health care across the country has been going up. So I suppose that is really no surprise, but there are a couple of factors here at work. Thank you, Mr. Speaker.
Brendan Bell on Question 8-15(3): Rising WCB Assessment Rates
In the Legislative Assembly on March 16th, 2004. See this statement in context.
Return To Question 8-15(3): Rising Wcb Assessment Rates
Question 8-15(3): Rising WCB Assessment Rates
Item 6: Oral Questions
March 15th, 2004
Page 14
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