If you’ve billed any claims through the Workplace Safety and Insurance Board payment program during February and March 2021, then you can expect a slight increase on those claims. The increase comes from an agreement that was made through the Workplace Safety and Insurance Board and the ministry of health (OHIP), in which they agreed that Ontario physicians needed compensation increases related to the 2019 Kaplan Board of Arbitration Award (Award). This means that any claims you may have billed through the WSIB program will be adjusted to reflect the prices outlined in Section 21(a) of the Binding Arbitration Framework in accordance with the award. Retroactive Increases to WSIB Payments For any claims you’ve billed through WSIB during the mentioned periods below, you’ll receive the dollar amount specific to that year’s increase. Year 1 and year 2 claims were paid on February’s remittance report while year 3 claims were paid on your March remittance report. Global WSIB Year Compensation Increase Remittance Advice month Year 1 (2017/18) 0.7500% March Year 2 (2018/19) 2.0094% March Year 3 (2019/20) 2.5194% February Reporting On your February remittance report, you should have seen a payment increase for all WSIB claims for 2.5194%. On your March remittance report, you should have seen two summaries, one for year 1 (2017/2018), which had an increase of 0.7500% and one for year two (2018/2019), which had an increase of 2.0094%. If you have any questions about these increases, don’t hesitate to reach out to our team. This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates. Related posts: Negative balance from the COVID-19 Advance Payment Program in Ontario Ontario Physicians can Now Submit COVID -19 Claims to OHIP COVID-19 Advance Payment Program (OHIP) An OHIP Expert in Your Pocket Find codes and bill premiums with a tap. Get a $150 Credit when you sign up for Dr.Bill*. *Terms and conditions apply. . GET STARTED
1/* When you sign up for the Comprehensive Plan (fee of 1.95% of paid claims per billing cycle) with Dr.Bill you will receive a $150 billing credit (“Billing Credit”) to be applied to future Dr.Bill fees ( “Offer”). Offer is only available to new Dr.Bill users and can only be used once. Billing Credit cannot be converted to cash. If you cancel your Dr.Bill account or switch to the Essentials Plan at any time before the Billing Credit balance has reached $0, you will forfeit the balance of the Billing Credit. Offer cannot be applied retroactively and may not be combined or used in conjunction with any other Dr.Bill offer. Offer is only available in provinces where Dr.Bill operates. Offer may be amended or withdrawn at any time without notice. 2Up to $7,500 in billings free refers to the maximum amount of billings with a fee rate of 1.95% of paid claims that the $150 billing credit would cover in full. You will be charged for any additional services requested outside of the Comprehensive plan.
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