R612-200-2. Payment of Benefits, Interest and Attorney Fees

  A. 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