Lowest workers’ compensation rates providing stability for Queensland employers
Industrial Relations Minister Grace Grace announced on Friday 14 June that WorkCover Queensland will maintain its current premium rate for another 12 months, the sixth straight year that the rate has remained the same.
Ms Grace said Queensland had the lowest average premium rate of any state or territory workers’ compensation scheme in Australia.
“The Palaszczuk Government backs Queensland businesses 100 per cent,” Ms Grace said.
“Maintaining the WorkCover premium at the same low rate, $1.20 per $100 of wages, for six years provides much needed savings as well as stability for employers in their business planning.”
Ms Grace said WorkCover would also continue to provide discounts for employing apprentices and for early payment of insurance premiums, offering employers further savings.
“Since 2017, around 10,000 employers have shared in more than $36 million in savings because apprentice wages have been removed from premium calculations,” she said.
“This year alone 10,720 employers who has taken on at least one apprentice had saved $18.7 million in premiums.
“Employers paying their premiums early will continue to be eligible for another five per cent discount, which has saved business owners more than $39 million since 2017 when the discount rate increased from three per cent.
“This discount will continue for any business which pays its annual premium in full before 16 September.”
Around 65,000 employers took advantage of this in 2018-19.
Ms Grace said Queensland had Australia’s most efficient workers’ compensation scheme.
“WorkCover Queensland continues to deliver a strong, stable, fully-funded workers’ compensation scheme delivering improved savings for employers and enhanced benefits for injured workers and their families,” Ms Grace said.
“Of all centrally funded schemes, Safe Work Australia reports the Queensland has the highest proportion of total expenditure paid directly to or for our injured workers, and the lowest proportion going to administrative costs.
“WorkCover is also investing in research and partnerships to improve return to work and rehabilitation support. This includes vitally important research for workers affected by silicosis and other dust diseases.
“With WorkCover’s support, the Palaszczuk Government has taken a leading role in responding to the emergence of silicosis in Queensland.
“Our proactive health screening program for workers in the engineered stone benchtop industry has been crucial to diagnosing this disease and then connecting workers with the support they and their families need.
For more information on Queensland’s workers’ compensation scheme, visit worksafe.qld.gov.au/
Article supplied by WorkCover QLD 27/06/2019