What do you do when you get your March NEER statement? Throw it in your desk and hope it disappears? Stare at it for hours trying to make sense of what the numbers mean? We know that these statements can appear intimidating at first glance, but understanding them and paying attention to what they mean for your company is important for various reasons.
These are a few things you should know when it comes to your statements:
Forecasting your September NEER position
Upon receiving this statement, it is important to know if you currently have any active claims or claims that are receiving Loss of Earnings (LOE) that could negatively impact your September NEER statement. Your claims management process and actions regarding return to work and accommodation will influence whether you are in a rebate or surcharge position.
Current NEER position will impact your place in the new system
There are only two September statements left before the new WSIB system is implemented. The new system will place companies in a new rate group based on their historical experience and claim costs. Consequently, it is important for your company to improve their upcoming NEER results as this will impact the premiums they pay in the new system. To read more about the new WSIB rate framework, click here.
The WSIB’s eService system faster and more convenient
The WSIB has an eStatement system that allows you to access your statements and view changes in a faster, more convenient way. Creating an account can save your company weeks of time when it comes to understanding your current NEER position and how to improve it before the September statement. You can sign up for this system on the WSIB website.
Clear Path can help
Clear Path’s approach to claims management is to return injured employees to work with suitable modified duties at full wages as soon as possible. We work to foster an early and safe return to work plan that is accompanied by medical management to ensure that the best and most effective steps are being taken for you and the employee. Clear Path will continuously communicate with your WSIB adjudicator and the employee, alleviating much of the stress that managing these claims can cause.
Clear Path has an upcoming Introduction to NEER Workshop in Cambridge on June 15. Our workshop explains the NEER system in an easy to understand way, and we provide you with useful resources that will help you better manage your claims, ultimately saving your company time and money. To register click here.
We are also happy to offer a complimentary NEER review of your most recent statement. Our consultants will forecast your costs for this year and identify areas of potential savings. To receive this review, you can book here.
We'd love to connect with you!
Learn how Clear Path can help you manage your HR and Claims Management needs!
Clear Path Employer Services
295 Thompson Drive, Unit 2
Cambridge, Ontario N1T 2B9
T: (519) 624-0800
T: (888) 336-0950
F: (519) 624-0860
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