Cost Estimate of an Increase in the Duration of Employment Insurance (EI) Sickness Benefits
This report estimates the additional cost to be approximately $1.10 billion in 2020. By 2025, this cost is expected to grow to an additional $1.30 billion per year. Increases in the cost of the program translate to an increase in the premium rate paid by employees and employers in Canada. Therefore, the increase in the duration of benefits is expected to raise the employee premium rate by a total of 6-cents from the baseline rate of $1.62 per $100 of insurable earnings. #abpoli #ableg #health