2019–20 and The insured scheme continues to be fully funded 100–110% beyond The average Commonwealth premium rate Average Commonwealth reduces to 1.1 per cent of payroll (excluding GST) premium rate = 1.0% of for the 2018–19 premium year, to ensure the payroll scheme remains financially sustainable Reduce the insured scheme liability to ensure the Scheme liability is scheme remains financially sustainable $1.71 billion or less by 30 June 2019 That claims administration cost as a ratio of all Administrative cost ratio is claims expenses is 20 per cent or lower for each 20% or lower injury year, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Increase the proportion of employees who have 13 weeks 80% — returned to work, measured by duration on 26 weeks 88% — incapacity benefits, to facilitate recovery and 78 weeks 95% — reduce liability A sustained high level of satisfaction and A stakeholder satisfaction engagement with the services provided, rating of 85% or more for measured by survey, to ensure services are services provided to the Fund appropriate, responsive and relevant Material changes to Program Component 1.4 resulting from the following measures: Nil Program Component 1.5—Pre-premium claims Purpose Leading Workers’ Compensation Insurer—To foster participation and productivity by minimising the impact of harm in workplaces, facilitate recovery at and return to work, and deliver sustainable management of the fund. Delivery Build a high-performance business and service culture that is committed to quality and outcomes. Performance information Year Performance criteria Targets 2017–18 Reduce the direct administration cost ratio to Assessment: Not on track 20 per cent by 2018–19, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund 2018–19 That claims administration cost as a ratio of all Administrative cost ratio is claims expenses is 20 per cent or lower for each 20% or lower injury year, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund 2019–20 and As per 2018–19 As per 2018–19 beyond Material changes to Program Component 1.5 resulting from the following measures: Nil
2019–20 and beyond The insured scheme continues to be fully funded 100–110% The average Commonwealth premium rate reduces to 1.1 per cent of payroll (excluding GST) for the 2018–19 premium year, to ensure the scheme remains financially sustainable Average Commonwealth premium rate = 1.0% of payroll Reduce the insured scheme liability to ensure the scheme remains financially sustainable Scheme liability is $1.71 billion or less by 30 June 2019 That claims administration cost as a ratio of all claims expenses is 20 per cent or lower for each injury year, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Administrative cost ratio is 20% or lower Increase the proportion of employees who have returned to work, measured by duration on incapacity benefits, to facilitate recovery and reduce liability 13 weeks — 80% 26 weeks — 88% 78 weeks — 95% A sustained high level of satisfaction and engagement with the services provided, measured by survey, to ensure services are appropriate, responsive and relevant A stakeholder satisfaction rating of 85% or more for services provided to the Fund Material changes to Program Component 1.4 resulting from the following measures: Nil Program Component 1.5—Pre-premium claims Purpose Leading Workers’ Compensation Insurer—To foster participation and productivity by minimising the impact of harm in workplaces, facilitate recovery at and return to work, and deliver sustainable management of the fund. Delivery Build a high-performance business and service culture that is committed to quality and outcomes. Performance information Year Performance criteria Targets 2017–18 Reduce the direct administration cost ratio to 20 per cent by 2018–19, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Assessment: Not on track 2018–19 That claims administration cost as a ratio of all claims expenses is 20 per cent or lower for each injury year, measured by Safe Work Australia’s comparative performance monitoring methodology, to ensure cost effective management of the fund Administrative cost ratio is 20% or lower 2019–20 and beyond As per 2018–19 As per 2018–19 Material changes to Program Component 1.5 resulting from the following measures: Nil
2018-19_jobspbs_comcare.docx