NEER Claim Cost Impact Calculator (NCCIC) Software Program

INTRODUCTION:
The NEER Claim Cost Impact Calculator program is efficient and user friendly. The program calculates the financial impact related to workplace injuries processed under the New Experimental Experience Rating (NEER) plan administered by the Workplace Safety & Insurance Board of Ontario (WSIB).

It is critically important that management understand not only the actual cost of claims. It is equally important to know the future cost of WSIB claims.

NO ONE can thoroughly manage a loss time claim without knowing the financial impact on the firm. Once the cost impact is known, you will then be able to analyse the situation, look at all possible options, and make the best decision rather than just administrating a paper trail. In other words, you would be playing an active role in getting your human resources back on track through effective and realistic claim management.

Complex and time consuming calculations can be performed simply and quickly in a user friendly environment. Most particularly, you will be able to appreciate the cost impact of a specific claim. The NEER Calculator will produce realistic cost results which in the past only few could determine. In addition our NEER Calculator Program has a comprehensive Help feature, assistance is always just a click away.

YES! the NEER Claim Cost Impact Calculator Program has the answer. The Calculator focuses on providing the cost impact of a specific claim, anywhere from 1 day lost time up to the NEER 3 year revision window.

THE NEER CALCULATOR PROVIDES THE FOLLOWING THREE MAIN FEATURES:

• New NEER calculation...
• New NEER template...
• New NEER profile summary...

As illustrated below, the cost impact calculation is based on the firm's actual data profile used for NEER experience rating such as:

• Expected Cost
• Rate Group Number
• Rating Factor (%)

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You may create any scenario by changing any one of the following factors:

• Accident Date
• Return to Work Date
• Health Care Cost
• Non Economic Loss Award (NEL)
• Weekly Loss of Earnings

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Once the information is entered the Calculator displays and explains through the FIRM MANAGEABLE COST CENTER the calculation results such as:

• Total Rebate or Surcharge (the cost impact on the firm)
• Maximum Potential Rebate
• Potential Savings Lost
• Maximum Potential Surcharge
• Manageable Cost

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In order to avoid repetitive data you may create time saving templates. These are specific to a firm accident year, expected cost, rate group number and rating factor.

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As illustrated below, you may create a NEER profile summary; in other words, your firm's NEER historical experience rating results such as:

• Total Insurable Earnings
• Total Premiums
• Total Current NEER Adjustment
• Total Firm Maximum Potential Rebate
• Total Potential Savings Lost
• Total Firm Maximum Potential Surcharge
• Total Firm Manageable Cost

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You may also be in total control by overriding any of the features illustrated in the window below.

The Neer Claim Cost Impact Calculator is more than a costing tool - it is an asset for claims management personnel, i.e.

• Accountants
• Human Resources
• Claim Managers
• Safety Coordinators
• Consulting Firms

Note: The program will process claims for workplace injuries occurring on or after January 1, 1998. (Bill 99).