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NV DIR Posts Annual COLA Reminders & Example Calculations

30 Mar, 2022 WorkersCompensation.com

                               

Carson City, NV (WorkersCompensation.com) - The deadline for submitting Requests for Reimbursement for costs associated with COLAs paid in calendar year 2021 for eligible claims is March 31, 2022. Requests for reimbursement will only be processed for claims whose AMW/Rate have been verified by WCS.  See the COLA Info – PTD and Survivors’ Benefits (Death) Claims page on the WCS website for Forms and Instructions for AMW/Rate Verifications and Requests for Reimbursement. Those submitting request(s) for reimbursement to WCS are encouraged to communicate with the appropriate insurer assessment contact(s) regarding specific claim information to facilitate proper reimbursement payment processing by insurer(s).

New Resources: To assist COLA payors and reimbursement requestors, WCS has posted Examples Calculations of COLA Payments and Reimbursements under “Resources” on the COLA Info – PTD and Survivors’ Benefits (Death) Claims on the WCS web site:      

Please also note that the PTD or Survivors’ Benefits Claims – COLA Reimbursement Request Form has been updated with additional explanatory text.

2022 COLA Reminder:  Injured employees receiving Permanent Total Disability (PTD) benefits and dependents receiving Survivor’s benefits should have received a 2.3% increase in their monthly benefit rate in January 2022 pursuant to NRS 616C.473 and NRS 616C.508. (Note: Costs associated with eligible COLA payments made in 2022 are not reimbursable until 2023.)

Direct inquiries to COLAS@dir.nv.gov.

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