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)
Revision as of 20:46, 6 October 2022
, 6 October 2022→c) Income Replacement Benefit
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Income replacement benefits are available to full-time, part-time and temporary earners in certain prescribed circumstances, as well as to certain non-earners (''IVA'', ss 131-134). The entitlement amount is, “90% of the insured’s net income” (''Income Replacement and Retirement Benefits and Benefits for Students and Minors Regulation'', BC Reg 60/2021, s 2(1) [''IRR'']), as calculated by certain formulas specified in the regulation. This amount of net income that can be used for calculation is up to a maximum of $100,000, effective until March 31, 2022. This cap will change on a yearly basis beginning on April 1, 2022 (''IRR'', ss 2(2) and (3)). | Income replacement benefits are available to full-time, part-time and temporary earners in certain prescribed circumstances, as well as to certain non-earners (''IVA'', ss 131-134). The entitlement amount is, “90% of the insured’s net income” (''Income Replacement and Retirement Benefits and Benefits for Students and Minors Regulation'', BC Reg 60/2021, s 2(1) [''IRR'']), as calculated by certain formulas specified in the regulation. This amount of net income that can be used for calculation is up to a maximum of $100,000, effective until March 31, 2022. This cap will change on a yearly basis beginning on April 1, 2022 (''IRR'', ss 2(2) and (3)). | ||
As set out in the ''Income Replacement and Retirement Benefits and Benefits for Students and Minors Regulation'', s 1(1), full-time, part-time and temporary earners are defined as follows: | As set out in the ''Income Replacement and Retirement Benefits and Benefits for Students and Minors Regulation'', s 1(1), full-time, part-time and temporary earners are defined as follows: | ||
(ii) for not less than 2 years with periods of work not less than 8 months in duration and with gaps between periods of work not more than 4 months; | ''“full-time basis”'', in respect of employment, means: | ||
“part-time basis”, in respect of employment, means an insured is employed for less than 28 hours per week, not including overtime hours; | |||
“temporary basis”, in respect of an insured who is a temporary earner, means the insured is employed but not on a part-time basis or full-time basis. | :(a) an insured is employed at one employment for not less than 28 hours, not including overtime hours, in each week of the year preceding the date of the accident, or | ||
:(b) an insured is employed at one employment | |||
::(i) for not less than 28 hours per week, not including overtime hours, and | |||
::(ii) for not less than 2 years with periods of work not less than 8 months in duration and with gaps between periods of work not more than 4 months; | |||
''“part-time basis”'', in respect of employment, means an insured is employed for less than 28 hours per week, not including overtime hours; | |||
''“temporary basis”'', in respect of an insured who is a temporary earner, means the insured is employed but not on a part-time basis or full-time basis. | |||
For '''part-time, temporary, and non-earners''', after the first 180 days of benefits ICBC will initiate a process called determining employment (see ''IRR'', s 13). This involves considering factors like, “education, training, work experience and physical and intellectual abilities of the insured immediately before the accident”, as well as factors like work experience and wages over the five years prior to the crash. If the insured part-time, temporary or non-earner is unable to do the determined employment as a result of the accident, then they continue to receive their benefit, and cannot receive a lower benefit amount than received prior to the determination of employment. For those able to hold their determined employment, the income replacement benefit ends (''IRR'', s 11(1)(b)). | For '''part-time, temporary, and non-earners''', after the first 180 days of benefits ICBC will initiate a process called determining employment (see ''IRR'', s 13). This involves considering factors like, “education, training, work experience and physical and intellectual abilities of the insured immediately before the accident”, as well as factors like work experience and wages over the five years prior to the crash. If the insured part-time, temporary or non-earner is unable to do the determined employment as a result of the accident, then they continue to receive their benefit, and cannot receive a lower benefit amount than received prior to the determination of employment. For those able to hold their determined employment, the income replacement benefit ends (''IRR'', s 11(1)(b)). | ||
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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 ==== | ==== d) Death Benefit ==== | ||