Notice Type
ACC, acting on behalf of the Minister for Accident Rehabilitation and Compensation Insurance, is proposing an increase to the earners' premium. ACC operates four main scheme accounts. The Earners' Account pays for the cost of non-work and non-motor vehicle accidents of people who are in the workforce (e.g., sports injuries). Expenditure forecasts for this account have increased considerably, mainly due to the Crown no longer funding Public Health Care costs for earners from 1 July 1997. the current rate is 62 cents per $100 (G.S.T. exclusive) the proposed rate is 71 cents per $100 (G.S.T. exclusive) ACC has produced a detailed discussion paper, which deals with the Earners' Account 1998/99 premium level and related issues. Issues covered include: income and expenditure forecasts; proposed increase in the current earner premium rate; and review of the Corporation's reserve policy. Under sections 128 and 167b (2) of the Accident Rehabilitation and Compensation Insurance Act 1992, premium payers are invited to make written submissions on the proposed reserves policy and earner premium regulations. A discussion paper is available by writing to ACC, P.O. Box 242, Wellington or by contacting Joanne Allan on (04) 460 7367 or the ACC Premiums help-desk on 0800 222 776. Submissions close on Friday, 22 August 1997.
Publication Date
17 Jul 1997

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