Effective date: May 1, 2010
Application: Long-term earnings replacement claims
Policy subject: Employer accounts – Claims costs adjustments and cost relief
Purpose:
To establish the guidelines to capitalize a claim receiving long-term earnings replacement.
Capitalization means funds calculated and set aside to pay future wage loss costs for a worker with permanent work restrictions who is eligible for long-term earnings replacement until the age of sixty-five. Medical or rehabilitation costs are not capitalized.
The Workers’ Compensation Act, 2013
115, 116(1), 121(1), 134, 139, and 145
01 January 2014. References updated in accordance with The Workers’ Compensation Act, 2013