Posted on August 31st, the latest FSCO bulletin includes amendments to auto insurance regulations as well as Attendant Care Hourly Rate Guideline revisions. To save you time, we’ve curated these updates to include what we feel is most relevant to Universal Office users.
There are several changes in the SABS that will apply to policies issued or renewed on or after June 1, 2016. Those changes will affect durations and/or payouts for medical, rehabilitation and attendant care benefits, non-earner benefits, and optional benefits. In addition, the definition to catastrophic impairment has been revised “to reflect more current and up to date medical information from the Superintendent’s 2012 report.”
Hourly Rates Go Up for Attendant Care
For accidents that occur on or after October 1, 2015, the maximum expense that auto insurers are liable to pay under the SABS for attendant care services are $13.19 per hour for Level 1 care, $11.25 for Level 2 care, and $19.35 for Level 3 care. These new rates reflect Ontario’s general minimum wage increase, and include all administration costs, overhead, and related fees that result in raising the hourly amount. Also note that, as per the October 2015 Attendant Care Hourly Rate Guideline, insurers are not prohibited from paying above these maximum rates.
No Changes to PSG Rates
After the annual review of the Professional Services Guideline (PSG) by the Superintendent of Financial Services, it has been decided that hourly rates within the PSG will not be increased at this time and will remain at their current amount.
For more details on this latest FSCO update, read the full Bulletin No. A-06/15 on FSCO website.
