2020 CHANGES TO WCB PREMIUMS
The Workers’ Compensation Board of Alberta (WCB) and the Government of Alberta have announced a new measure to assist private sector employers and mitigate the financial impacts of COVID-19.
Summary of the measures are as follows:
- All 2020 WCB Premiums will be deferred to 2021
- All 2020 WCB Premiums already paid will be refunded
- All 2020 WCB Premiums invoices and statements have been stopped
- Starting in 2021, the 2020 WCB Premiums will be invoiced and discounted by 50%
Once the 2020 discounted premiums will be calculated in February 2021, those premiums will be added to the 2021 estimated premiums and invoiced as done in the past.
Any small and medium sized private sector employers with $10 millions or less in insurable earnings for 2020 will be eligible.
No actions by the employers is required. Refunds will be issued automatically.
Disclaimer
The information in this publication is current as of March 24, 2020.
This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Gregory, Harriman & Associates LLP to discuss these matters in the context of your particular circumstances. Gregory, Harriman & Associates LLP, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.