(a) On approval by the commissioner of a written request received from an employee, an insurance carrier shall accelerate the payment of impairment income benefits to the employee. The accelerated payment may not exceed a rate of payment equal to that of the employee’s net preinjury wage.
(b) The commissioner shall approve the request and order the acceleration of the benefits if the commissioner determines that the acceleration is:
(1) required to relieve hardship; and
(2) in the overall best interest of the employee.
(c) The duration of the impairment income benefits to which the employee is entitled shall be reduced to offset the increased payments caused by the acceleration taking into consideration the discount for present payment computed at the rate provided under Section 401.023.
(d) The commissioner may prescribe forms necessary to implement this section.
Acts 1993, 73rd Leg., ch. 269, § 1, eff. Sept. 1, 1993.
Acts 2005, 79th Leg., Ch. 265 (H.B. 7), § 3.117, eff. September 1, 2005.