Indexation percentage for Ontario SABS benefits bumped up to 3.4%

The Financial Services Commission of Ontario (FSCO) has released the indexation percentage for the Operational Index Benefit under section 29 of the Statutory Accident Benefits Schedule, raising the percentage from 2.5% to 3.4% in 2009.
Benefit amounts and monetary limits are indexed on Jan. 1 of each year immediately following the accident. The indexation percentage is the percentage change in the Consumer Price Index for Canada (all items), as published by Statistics Canada under the authority of the Statistics Act (Canada).
Under Bill 59/198, the indexation percentage applies to named insureds, spouses of named insureds, dependants of any of these and specified drivers, if the optional indexation benefit was purchased.
The indexation percentage under Bill 164 is also 3.4%. This applies to benefits pertaining to insured persons who were involved in accidents after Dec. 31, 1993 and before Nov. 1, 1996.
Indexation applies to the following benefits and monetary limits:
•    the weekly amount of any income replacement benefit
•    the weekly amount of any non-earner benefit
•    the weekly monetary limits applicable to income replacement benefits
•    the weekly monetary limits applicable to caregiver benefits
•    the monthly attendant care monetary limits
•    the outstanding balance of medical and rehabilitation benefits available
•    the outstanding balance of attendant care benefits available
•    the outstanding balance of medical, rehabilitation and attendant care benefits available to persons who have access to the optional increased medical, rehabilitation and attendant care benefit
FSCO also posted new non-pecuniary loss deductible amounts, which will increase from Cdn$13,072 in 2008 to Cdn$13,516.56 in 2009.
A full summary of the monetary amounts are posted on FSCO’s Web site at: <http://www.fsco.gov.on.ca/english/pubs/bulletins/autobulletins/2008/a-07_08.asp>