Revenue decline dents WorkCover WA surplus
WorkCover WA recorded a $4.6 million net surplus in the year to June 30, down from $8.5 million the previous year as a decline in revenue outpaced that of key expenses.
Total revenue fell to $23.2 million from $27.4 million, partly dragged down by a decline in insurer contributions to $19.9 million from $21.5 million. About 85.8% of the scheme’s funding for the year was derived from insurer contributions.
Employee benefit expenses, which account for 65% of spending, fell to $14.5 million from $14.9 million. Total expenses decreased to $22.3 million from $23.1 million.
About 67.4% of scheme payments, or $636.2 million, went to workers via income payments and common law and lump sums.
Treatment services such as medical and vocational rehabilitation took in $211.8 million.
The number of complaints against the scheme’s seven approved insurers dropped to four from seven the previous year. Of the four complaints, one was substantiated, one could not be investigated and two were found to be unsubstantiated.
There were no complaints against self-insurers.