ICBC Enhanced Care System (Current Model) (12:III): Difference between revisions
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ICBC Enhanced Care System (Current Model) (12:III) (view source)
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'''Retirement Benefit:''' | '''Retirement Benefit:''' | ||
Retirement income benefits are available to certain insured persons over the age of 65. An insured person receiving income replacement benefits is transitioned to the retirement benefit on whichever of the following two dates is later in time: either when they reach 65 years of age, or five years after becoming entitled to income replacement benefits (''IVA'', s 149). These benefits are calculated at, “70% of the insured’s net income as determined under subsection (2) of this section, less any pension income as determined under subsection (3).” (''IRR'', s 34(1)). The benefit is ''not'' available to those who are over 65 at the time of their accident and are not employed (''IVA'', s 148). | Retirement income benefits are available to certain insured persons over the age of 65. An insured person receiving income replacement benefits is transitioned to the retirement benefit on whichever of the following two dates is later in time: either when they reach 65 years of age, or five years after becoming entitled to income replacement benefits (''IVA'', s 149). These benefits are calculated at, “70% of the insured’s net income as determined under subsection (2) of this section, less any pension income as determined under subsection (3).” (''IRR'', s 34(1)). The benefit is ''not'' available to those who are over 65 at the time of their accident and are not employed (''IVA'', s 148). | ||
==== d) Death Benefit ==== | |||
Enhanced Care also provides for a death benefit, paid in a lump sum, for surviving spouses and dependants of the insured (''IVA'', ss 156-157). Death benefits for spouses are calculated by a formula which uses the deceased insured’s gross income. These spousal death benefits are capped at a maximum of $500,000 (''EABR'', s 47(2)). Death benefits for dependants are calculated in accordance with the age of the dependant at the time of death, and are capped at a maximum of $89,306 (''EABR'', s 48(2)). | |||
====e) Permanent Impairment==== | |||
Enhanced Care provides for a lump sum payment to be made in cases of permanent impairment (''IVA'', s 129). This payment is calculated by: | |||
<blockquote>(a) determining if the insured has sustained a catastrophic injury in accordance with section 2, | |||
(b) determining the insured's permanent impairment rating in accordance with section 4, and | |||
(c) determining the compensation that corresponds to, as applicable, | |||
<blockquote>(i) the catastrophic injury in accordance with section 8 [permanent impairment compensation calculation — catastrophic injury], or | |||
(ii) the permanent impairment rating in accordance with section 9 [permanent impairment compensation calculation — non-catastrophic injury].</blockquote> | |||
(''Permanent Impairment Regulation'', BC Reg 61/2021, s 3 [''PIR''])</blockquote> | |||
Catastrophic injury is defined in detail in s 2 of the ''Permanent Impairment Regulation''. Detailed information on the above calculations can be found in the ''Permanent Impairment Regulation''. | |||
The Enhanced Care system also includes a recreation benefit for those who are permanently impaired as a result of their injuries. This benefit provides support for the insured to participate in certain recreational activities following their injury. Note that this benefit is only available to those with a “catastrophic injury” or those, “with a permanent impairment rating of 20% or more as determined in accordance with the Permanent Impairment Regulation” (''EABR'', s 36(2)). The dollar amount awarded for this benefit correlates to the percentage degree to which the insured is deemed to be permanently impaired (''EABR'', s 36(7)). | |||
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