The government, for the people, can take action by ensuring all workers have coverage under the WSIA. Ontario’s government can improve Ontario by expanding coverage for the 1,678,000 Million not covered.
Expanding coverage will add:
• $59.2 Million toward WSIB legislative requirements
• $162.6 Million to WSIB administration overhead
There would be a total of $221.8 million of added revenue, which would have the effect of reducing assessment rates for currently covered employers of approximately 3.9%
• The 3.9% premium reduction would add $180M to Ontario’s economy
o Note: Provincial government reported the 29.8% employer assessment rate reduction in 2019 left $1.45 Billion that employers can invest in Ontario’s economy.
Health Care (OHIP) savings for the tax paying public:
• $128.5 M offset for OHIP cost relief (OHIP cost would be paid by WSIB as part of the employer assessments resulting in tax relief).
Ontario Disability Support Programs:
• In terms of the offsets for social assistance, it would be appropriate to conclude there would be some savings, but the amounts may not be significant assuming employers provide coverage for things like STD and LTD.
• It would be difficult to estimate any cost relief for other social support programs via Universal coverage for:
o EI, ON Disability Support Program and pension program
• The 76.5% of Employers covered by the WSIA carry 100% of the $273M cost of funding obligations under the Occupational Health and Safety Act, the Workplace Safety and Insurance Appeals Tribunal, Office of the Employer Advisor, Office of the Worker Advisor, Health and Safety Associations and research.
o Based on the average rate reduction of 3.9%, $59M of the $273M would be appropriately allocated to the newly covered employers.
• The 3.9% cut in premium would generate approximately 1,000 jobs in Ontario.