Workers Compensation Payments May Now Be Received Through Electronic Funds Transfer
If you’ve ever suffered a difficult injury, you know that even small tasks can be hard. Running errands, buying groceries or going to the bank can be nearly impossible. A new law, recently passed by the Minnesota State legislature, can help those who are receiving workers’ comp benefits cross one more task off the list.
Effective January 1st of this year, employers and/or insurers who are are providing an employee with workers’ comp benefits must make their periodic payments through electronic funds transfer if requested by the employee.
If the payee already has an established funds transfer with the payer, these payments must be made within 30 days after an employee or dependent makes the request. If not, the payer must make efforts to establish the electronic funds transfer arrangement within 14 days of the request, then make the payment within 30 days after the request is fulfilled.
So once set up, this means that your workers’ comp benefits will get to you quickly and easily, without the hassle of a bank trip.
If you have an interest or have questions regarding the electronic funds transfer, please do not hesitate to contact our office.