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New Jersey Workers’ Compensation Rates Essentially Unchanged in 2016

New Jersey Workers’ Compensation Rates Essentially Unchanged in 2016

The New Jersey Compensation Rating and Inspection Bureau, the agency responsible for regulating workers’ compensation insurance premium rates in the state, has issued a statement indicating that there will be essentially no increases or decreases in the costs employers must pay in 2016 to cover the risk of injury to workers. The bureau makes recommendations to the state’s commission on Banking and Insurance. The filing for 2016, providing for no change in the overall level of liability rates, was approved by the commission in late 2015.

Benefits Changes

The bureau reported that there will be slight changes in the amount of benefits paid in 2016, though. An applicant for workers’ compensation benefits who is determined to have permanent, but partial disability, will qualify for a maximum weekly benefit of $232 to $871, up from $228 to $855 in 2015. The weekly benefit is based on a formula that takes into account the workers average weekly wage (AWW) for the last 52 weeks, as well as the percentage of the permanent disability. The maximum rage varies based on the duration of disability. Officials say the minimum amount paid per week will remain unchanged at $35.

Contact the New Jersey Personal Injury Lawyers at the Law Offieces of Harold J. Gerr

At the Law Offices of Harold J. Gerr, we have fought for the rights of personal injury victims in central New Jersey for more than four decades. We carefully choose the cases we handle, so that we can provide the highest levels of service and personal attention to each client. We are also happy to take over your case, if your first lawyer does not seem to have your best interests in mind.

To set us a free initial consultation, send us an e-mail or call our office at 732-537-8570 (toll-free at 1-877-249-4600).

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