The annual review of workers’ compensation rates, fees and payments in Western Australia have been published by WorkCover WA. Variations to the Prescribed Amount come into effect on 1 July 2012.
Some of the notable changes include:
The capped amount for weekly earnings has increased from $2,156.60 to $2,351.80 ($112,293.60)
The maximum payment of the prescribed amount (100%) has increased from $190,701 to $198,365.
The amount allocated for capped Common Law has increased from $400,475 to $416,569.
What does this mean for you? If you have workers who are currently on the ‘capped amount’ for weekly earnings, their rates of pay should be reviewed to ensure you are paying them their correct entitlement after 1 July. If in doubt, check with your insurer.
Increases to other entitlements will have an impact on claims costs as they flow through the claims management process, making it more important than ever to ensure that you are managing each and every claim as effectively as possible to mitigate your cost exposures.