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State Approves Workers’ Comp Pay Decrease

State Approves Workers’ Comp Pay Decrease | Bloom Law Office

Every state has some form of workers’ compensation, and in New Jersey, there are some great perks—like it being a no-fault workers’ comp state. However, it’s still a good idea to have a qualified workers’ comp attorney on your side should you ever have to file a claim. Staying abreast of the latest workers’ comp news is also a wise move, especially when the state is making big changes.

Beginning in January, the New Jersey insurance commissioner approved a 5.1 percent rate decrease for workers’ comp premiums for new and renewal policies.

The official announcement was made by the Compensation Rating and Inspection Bureau. However, the premium changes will only affect employers and those who are self-employed. The more important pay decrease is for weekly benefits. Also beginning in January, the maximum weekly benefit for workers’ comp decreased from $903 to $896.

It might not seem like a huge shift, but a few dollars can make a world of difference to someone recovering from a work-related injury or illness. This is especially true since higher-paid workers are already taking a big cut if they can no longer work due to an injury. The minimum weekly benefit was decreased from $241 to $239.

Disabilities and Workers’ Comp

There’s a different pay scale for partial disabilities. In these instances, the commissioner approved an increase. Now, the maximum weekly benefit is $903 compared to the previous $896. The minimum weekly benefit increased to $241 from $239. Ultimately, it was a bit of a swap as the general workers’ comp benefits traded financial places with the partial disabilities benefits. The only unchanged amount was the minimum weekly benefit for permanent partial injuries, which holds steady at $35.

Schedule a Complimentary Workers’ Comp Consultation with Bloom Law Office Today

One of the most important reasons to hire a workers’ comp attorney is to ensure a fair benefit for your work-related injury or illness. Our attorneys don’t get paid until you do. If you’re filing a workers’ comp claim, contact Bloom Law Office today and schedule a consultation.

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