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A Wage Loss Replacement plan is an arrangement between an employer and employee or a group or association of employees, where benefits are payable on a periodic basis if the employee suffers a loss of employment income due to an illness, maternity or accident.
The minimum annual premium on a WCB account is $200. Its important to base the coverage on your actual employment earnings (earnings before tax, CPP and EI deductions). This amount will be used to determine the amount you receive if youre hurt at work.
Wage replacement These benefits are based on 90 per cent of your net earnings, up to a maximum amount set by WCBs Board of Directors for the year of your accident.
If you are paid hourly, calculating your lost wages may not be very difficult. Simply take the hourly wage that you are paid and multiply it by the hours of work you have missed. This is the amount of lost wages you will want to try to recover.
Temporary up to five to six years with annual earnings review. A review of earnings is done periodically and at the age of 65.
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Your wage replacement benefits start the next working day after you are injured. Your employer must pay you for the entire day the injury happened. You should receive your first wage replacement benefit payment from WCB-Alberta within 14 days of WCB-Alberta registering your new claim.
In fact, if you are receiving workers comp benefits for a workplace injury, you should be able to resign from your current job without losing benefits. Leaving a job doesnt automatically end a workers comp claim.
Permanent functional impairment award You may be entitled to a lump sum payment for any permanent disability due to the workplace injury youve suffered. This will be based on an assessment after undergoing medical treatment (e.g., surgery).
Eligible individuals for wage loss will receive 85% of the gross pay the individual would have earned from work he or she would have performed had the accident not occurred.
Lost wages are the money you would have earned if you were not hurt in an accident and had to miss work while you recovered. It includes all the money you would have made like your salary, tips, vacation pay, and other benefits.

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