Following the Workers Compensation Commission decision in Sabanayagam v St George Bank Ltd [2016], any cessation of weekly compensation payments must now be issued via a Work Capacity Decision (WCD). As WCDs require a legislated 3?month process, businesses face added wage costs that flow into workers’ compensation premiums for the next three renewals. Timely, effective claim management, including specialist input, has become increasingly critical
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Significant challenges defined the 2015/16 renewal period for NSW workers’ compensation premiums. ABILITY GROUP has closely monitored these developments to keep employers informed and supported through the transition.
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At ABILITY GROUP, we are proud to showcase the outstanding results of our specialist workplace rehabilitation provider, Health Ability, which has achieved a 100% Return-to-Work (RTW) rate. This milestone demonstrates the effectiveness of timely, tailored rehabilitation services in helping injured employees recover and reintegrate into the workplace
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In 2015/16, many employers faced sharp increases in premiums due to prior year adjustments and a new renewal formula. For businesses with tariff premiums above $30,000, the impact was substantial, creating financial strain at the most critical time of year.
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On the 4th of December 2015, icare (previously known as WorkCover NSW) announced further changes as a component of the NSW government ongoing NSW workers compensation reforms.
The latest reforms include benefit changes to injured employees in need of the highest benefits being those with a Whole Person Impairment (WPI) of >30%. In addition to this there were several other as well as additional changes.
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Despite the NSW scheme changes taking effect back on 30 June 2015, the majority of medium to large NSW businesses are yet to receive their 2015/16 premium renewals. With iCare now authorising the NSW insurers to start processing 2015/16 renewal notices the challenge they now face is there is a 3-4 month backlog. Given the events over the last 4 months, we have covered this inside out. To help make these changes easier to understand, ABILITY GROUP provide a quick reference list below for our clients and partners:
1) Reforms are causing increases & Renewal Premium Increases
2) Renewal Capping & Appeals
3) New Premium Scheme Transition