No rate hike for 2022/23 WorkCover premiums

Victorian Government announces no increase in premiums for the 2022/23 year to help business recover from the impact of the COVID-19 pandemic.

JUMP TO:
JUMP TO:

The average WorkCover premium rate will remain at 1.272 per cent of remuneration for the 2022/23 premium year.

WorkCover premiums are one of the lowest rates in Australia, with the decision to maintain rate aimed at helping Victorian businesses recover and rebuild as the state emerges from the COVID-19 pandemic.

The State Government notes WorkSafe’s financial projections have been impacted by COVID-19 “on top of the existing pressure from complex claims, especially for mental injuries”.

It will therefore contribute a further $300 million to the scheme to maintain the current premium rate and “help injured workers continue to get the support to recover and return to work”.

Victorian Chamber Chief Executive Paul Guerra welcomed the announcement.

“We are pleased with the announcement by the Victorian Government to keep the WorkCover premium at its current rate as this will help ease the financial burden on businesses in this crucial recovery phase,” he said.

“The Victorian Chamber also welcomes the additional investment to support staff to help them return to work as this will also assist business.”

Victorian Minister for Workplace Safety Ingrid Stitt added: “We know it’s been a tough few years for businesses – that’s why we’re keeping WorkCover premiums low so businesses can continue to recover from the impacts of the pandemic.”

WorkCover reforms

Key reforms to WorkCover were announced in March 2022 in response to an independent review covering the management of complex WorkCover claims.

According to the State Government, the reforms aim to better address modern workplace injuries, particularly mental injuries, “which can be harder to identify and require unique supports and recovery pathways”, through an expanded Claims and Recovery Support Team to focus on specialised interventions for these more complex claims.

Draft Psychological Health Regulations to better prevent workplace psychological harm were released for consultation earlier in 2022, with a decision on new regulations to be announced in June.

WorkSafe’s Mental Health Strategy 2021-24 and year one Action Plan guides the reform work including the $50 million WorkWell program, which helps employers to create mentally healthy workplaces through funded projects, learning networks and an online toolkit that is set to be expanded.

New Memberships for wherever you are in business

Hard times. Good times. Crunch time. Growth time. We’re here to support you at all those pivotal times in your business life. We’ve now tailored our range of memberships to fit wherever you are in business – today and well into the future.

Restricted Page

You are being redirected to our login page!