Tonda Accounting

(1) Who has to register WISB? Optional for owners and executives?

In most cases, you are required to register your company with the WSIB. There are a few industries that do not have to register. These include:

• Banks, trusts and insurance companies
• Private health care practices (such as those of doctors and chiropractors)
• Trade unions
• Private day cares
• Travel agencies
• Clubs (such as health clubs)
• Photographers
• Barbers,hair salons, and shoe-shine stands
• Taxidermists
• Funeral directing and embalming

Even if your company is in one of these categories, you can still choose to insure your workers through the WSIB. If you are a sole proprietor, partner, or executive officer, you are not      automatically covered under the WSIB insurance plan. You can, however, apply for optional insurance.

(2) How does WSIB work?

• Employers contribute to an province-wide insurance fund.  Contributions (insurance premiums) are based on the employer’s payroll  and the accident experience in their industry.
• Injured workers are compensated by the WSIB on a “No Fault” basis.  This means that compensation is paid no matter who is at fault, the  employer, the employee or someone else.
• The main focus of the WSIB system is to get the injured worker back  to his or her work as soon as practicable.
• The injured worker is paid  benefits while recovering and returns to his or her regular work.

(3) How do I claim WSIB?

You must fill out a application form, often called just the Form 6, this is a WSIB form that the worker completes and sends to the WSIB after a work-related injury or illness. When you complete and submit the Form 6, it tells WSIB that you are claiming for benefits for a work-related accident. There is a time limit for you to report. It is important to claim benefits as soon as possible. You have six months from the date of the accident to claim benefits or, for occupational diseases, from the time you learn of the disease.

(4) What benefits WSIB covered?

If you miss time from work because of a work-related injury or illness, WSIB pays for loss of earnings. This benefit starts from the working day after the injury or illness occurred. How WSIB calculate your loss of earnings benefit depends on the date the injury occurred.

WSIB base benefit payments on an annual wage ceiling. Wages you receive above this ceiling are not covered. The annual wage ceiling is based each year on 175% of the average industrial wage (AIW) for Ontario.

(5) 2014 WSIB premium rates

The WSIB maximum insurable earnings ceiling for 2014 is $84,100. This is an increase of 1.1% from $83,200 in 2013. Changes to the Maximum Insurable Earnings Ceiling are directly linked to changes in average earnings in Ontario as measured by Statistics Canada, and provisions under the Workplace Safety and Insurance Act.