Modified work allows injured workers to return to work at the earliest opportunity, can aid in overall recovery and reduce the cost of injury or illness.
You can positively impact your premiums by providing your worker with a suitable and timely return to modified work. Claims with no time lost from work and costs under $1,300 will not affect your premiums. Modified work can help you reduce your claim costs to meet this goal.
Specifically, it can help you reduce your worker's time away from work which can reduce your overall (medical, vocational) claim costs.
The following chart shows the impact a great modified work program can have on the premiums you pay. Company A and B are similar in size and operations, but Company A consistently offers modified work to its employees to reduce their time away from work after an injury. As you can see this has drastically reduced their lost-time claim volume and days away from work, and has a significant impact on the premiums they pay.
You too can lower your premiums through modified work and we're here to help. For more information and to create your own formalized modified work plan, visit return-to-work planning.
|
Company A |
Company B |
|
|
Insurable earnings |
$1.46 million |
$1.4 million |
|
Lost-time claim volume (2011 - 2013) |
2 |
11 |
|
Lost-time days (2011 - 2013) |
9 |
276 |
|
Experience rating adjustment |
- 40 per cent |
40 per cent |
|
Poor performance surcharge |
0 per cent |
100 per cent |
|
Total employer rate adjustment |
- 40 per cent |
140 per cent |
|
Premiums to be paid in 2015 |
$16,060 |
$61,880 |
|
Certificate of Recognition (COR) |
Yes |
No |
|
PIR incentive potential (20 per cent) |
$5,373 |
$0 |
|
Net premiums |
$10,687 |
$61,880 |
