DWC Posts New Interest Rate, Work Status Report

The Division of Workers’ Compensation has published a revised DWC-73, Work Status Report. The revised form is available at www.tdi.texas.gov/forms/form20numeric.html.

The revised DWC Form-073 reflects that advanced practice registered nurses may complete and file the form as authorized by House Bill 387 (86th Legislature, Regular Session, 2019). Other changes were made to the form to make it appear less cluttered and to update unnecessary, outdated information.

DWC encourages system participants to continue accepting the former DWC Form-073 through the end of the calendar year to allow doctors, physician assistants, and APRNs time to transition to the updated form.

The Agency has also announced the interest rate and discount rate applicable for October 1, 2019 through December 21, 2019. That rate, 5.36% is a slight reduction from the rate applicable in the third quarter.

The Texas Department of Insurance, Division of Workers’ Compensation determines the interest or discount rates provided for in the Texas Workers’ Compensation Act on a quarterly basis. The rates are computed by using the treasury constant maturity rate for one-year treasury bills issued by the United States Government, as published by the Federal Reserve Board on the 15th day preceding the first day of the specified quarter, plus 3.5 percent. Texas Labor Code §401.023.

Rule 126.12 (d) provides: “The rate of interest to be paid on accrued but unpaid income benefits by carriers will be the rate calculated in accordance with the Texas Labor Code, §401.023 and in effect on the date the payment was made.”