The federal government announced its annual adjustments to the regular Employment Insurance (EI) maximums and premium rates. Effective January 1, 2023, the following changes will affect Short Term Disability (STD) volumes and premiums:
| Maximum Insurable Earnings | Premium Rate per $100 of Insurable Earnings | Maximum Annual Contribution | Maximum EI Weekly Benefit | |
|---|---|---|---|---|
| Rest of Canada | $61,500 | Employee: $1.63 *Employer: $2.28 | Employee: $1,002.45 *Employer: $1,403.43 | $650 |
| Quebec | $61,500 | Employee: $1.27 *Employer: $1.78 | Employee: $781.05 *Employer: $1,093.47 | $650 |
*Employer contribution is equal to 1.4 time the employee premium.
This change affects a STD plan if:
- The benefit is a flat amount equal to the EI maximum
- The STD maximum is equal to the EI maximum
- STD benefits are calculated using EI maximum insurable earnings
Contact Us
If you have any questions, please feel free to contact our Group Client Services at 1-877-236-9430, Monday to Friday between 8:00 a.m. and 5:00 p.m. MST OR send an enquiry at [email protected].
