Workplace Safety & Insurance Coverage - wsib

Chapter 6 -Account Administration
■ total benefit costs (including those
covered by advances)
■ physicians’ fees
The administration fees are based on a projected
administration rate that is set at the beginning of
each year.
Did You Know
Since October 1990 physicians under the Ontario’s
health insurance plan (OHIP) no longer bill the WSIB
directly. They bill WSIB claim related costs to the
Ministry of Health who, in turn, bills the WSIB.
Late Filing of Accident Report (0183)
This is issued daily, as they occur. This form notifies an
employer when they are charged a late filing penalty.
The charge is $250 for each occurrence.
Physician Fee Adjustment
Employers receive this notice annually, normally in
March. It shows the difference between the estimated
amount and the actual amount paid by the WSIB to the
Ministry of Health for the previous year for physician fees.
Fines for late reporting of accidents are recorded
on the monthly statement as an AD invoice number.
Average weekly Average reimbursement
X – Deposit
Costs pattern + 2 weeks on Hand
Interest Charged
The late payment interest charge notice is sent when
interest is charged. The WSIB charges interest at the rate
of two per cent each month end on the amount of
overdue invoices not covered by a deposit.
Late payment interest charges are recorded on
the monthly statement as an AC invoice number.
Interest Earned
A notice of interest earned is sent when earned.
The WSIB pays interest on deposits at each month end on
the portion of the deposit greater than the accounts
receivable balance.
Invoice Cancellation Notice
This notice is sent when the WSIB cancels an invoice
previously charged to a Schedule 2 employer, such as
when we cancel a late reporting charge.
Interest earned is recorded on the
monthly statement as a BB invoice number.
Frequency of Billing Charges
Working Capital
All Schedule 2 employers must provide working capital so
that the WSIB can pay for workplace insurance benefits
on their behalf. The WSIB may request additional
working capital at any time if it feels there are insufficient
funds on hand. The amount is payable upon receipt of
notice.
Each year, the rate of interest paid is set at the prime
rate of the WSIB’s bank, less two per cent, at the close
of business each December 31. This rate is then used for
the coming year.
The WSIB evaluates the employer’s average weekly
costs and reimbursement pattern; and adjusts the working
capital amount as necessary using the firm’s cumulative
12 month experience.
Average weekly costs are based on the benefit and
associated costs (administration and physicians’ fees) paid
out for the previous 12 months. The average
reimbursement pattern is the average time it takes for
an employer to reimburse the WSIB for benefits and
associated costs.
Charge/Cancellation Notice
Late Filing of Accident Report
Schedule 2 Invoice
Covered by Advance Notice
Invoice Cancellation
Physician Fee
Administration Charge
Monthly Statement
Late Payment
Interest Earned
Adjustment – Physician fee
Reconciliation of administration charge
Billing Cycle
Daily
Weekly
Weekly
Daily
Monthly
Monthly
Monthly
Monthly
Monthy
Yearly
Yearly
32 Your account manager is your key contact for all
premium-related questions.