The federal government has updated Employment Insurance (EI) rates and maximums. This affects plans with a short-term disability benefit, and specifically plans where:
- The maximum STD benefit reflects the EI maximum weekly benefit or
- The EI maximum earnings amount is used to work out the STD benefit amount.
The new maximums are:
- Maximum insurance earnings: $60,300;
- Maximum weekly EI benefit: $638.
These new rates took effect January 1, 2022. Our February billing statements will reflect this change, and reflect premium for both January and February, if this applies to your group.
