Section R612-200-2 - Payment of Benefits, Interest and Attorney FeesA. Timing and payment of benefits. A workers' compensation benefit is due and payable when the claimant has satisfied all legal requirements applicable to that benefit. 1. Payment intervals for compensation. After entitlement to disability compensation or dependent's benefits has been established, such compensation shall be paid in regular intervals of at least once a month, except that TTD and TPD benefits shall be paid twice monthly.2. Form of payment. A payor may choose to pay benefits by check, debit card or electronic fund transfer, provided that the form of payment allows a claimant to access the full amount of the benefit on the date the payment is due. No fee or charge of any kind may be assessed against the claimant.3. Employer coordination of employee benefits. Benefits may be paid "in care of" the employer if the employer coordinates employee benefits.B. Interest. As required by Subsection 34A-2-420(3) of the Utah Workers' Compensation Act, any final order of the Commission awarding benefits will include interest on the principal amount of the benefits at the rate of 8% per annum from the date the benefit or any part thereof was due and payable.C. Discounting of lump sum payments. Any proposal to pay all or part of a claimant's future workers' compensation benefits in a present lump sum must be submitted to the Adjudication Division for review and approval. A discount rate of eight percent per annum shall be used to determine the present value of such benefits. The following table may be used to determine a benefit's present value by interpolating, when necessary, the weeks to be discounted between the weeks listed on the table. TABLE Unaccrued X Weekly X Cumulative = Discount $ Weeks Benefit $ Discount 1 .001475 10 .008076 20 .015343 30 .022538 40 .029663 50 .036719 60 .043706 70 .050626 80 .057478 90 .064264 100 .070984 110 .077639 120 .084229 130 .090756 140 .097221 150 .103623 160 .109963 170 .116243 180 .122463 190 .128623 200 .134724 210 .140767 220 .146752 230 .152680 240 .158552 250 .164368 260 .170129 270 .175835 280 .181488 290 .187087 300 .192633 312 .199219 Utah Admin. Code R612-200-2
Amended by Utah State Bulletin Number 2014-22, effective 10/22/2014Amended by Utah State Bulletin Number 2016-24, effective 11/28/2016