December 2, 2021
*Correction (Dec 7, 2021): The original indicated there was only a 20% discount available, however, that was only referring to PIR discounts. The article has been corrected to provide the ranges available.
On Dec 1, 2021, WCB announced the 2022 industry rates. The average industry rate will increase by 3 cents to $1.17 rather than $1.42, which would be required to cover the total forecasted claims cost for 2022. WCB will absorb the additional costs from its accident fund, to cover $265 million in employer premiums.
What does this mean for our AMTA members?
The trucking industry is diverse and has multiple industry codes. Every business should verify their industry code in their WCB account. Each industry is treated differently based on its risk profile. As a result, our industry codes receive their own rates. The industry codes for AMTA are:
50714 General Trucking
2022 rates will be $4.35 per 100 dollars of earnings. The 2021 rate was $4.38, for a decrease of 0.68%.
50701 Specialized Trucking
2022 rates will be $2.71 per 100 dollars of earnings. The 2021 rate was $2.66 for an increase of 1.88%.
57901 Garbage Collection/Disposal
2022 rates will be $2.86 per 100 dollars of earnings. The 2021 rate was $2.82 for an increase of 1.42%.
How does this impact my bottom line?
WCB utilizes a complex formula to set your companies individual insurance premiums based on these rates. Depending on the unique circumstances of your business, you may be charged additional premiums, up to 60% on your experience rating, and an additional poor performance surcharge of up to 200%. Alternatively, you may receive Partnership in Injury Reduction (PIR) discounts of up to 20% for a total max discount of 60%.*
Company X took advantage of these programs and saved over $90,000 over three years in premiums on top of increased productivity. They actively managed their WCB claims and introduced safety programs and achieved COR.
Company Y was paying an additional $32,000 per year in premiums due to poor performance. By managing their WCB claims by seeking cost relief on several claims as well as successfully appealing a group claim, they were able to eliminate the poor performance surcharge and get a refund from the previous year.
How can AMTA help?
AMTA can provide members with one-on-one guidance on how to help manage your WCB premiums. If you have any questions, please contact AMTA and our experienced staff will be happy to help. For your WCB, Safety, Compliance, and Human Resources questions, please email Workplace Support Services at email@example.com or contact Rob Dombowsky at AMTA (403) 214-3439.