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New Jersey employers pay workers' compensation insurance premiums to ensure the well being of their employees if they are injured on the job or suffer from occupation-related diseases. They are entitled to receive full payment for the cost of all necessary medical treatment and hospital care, including physical therapy and rehabilitation expenses. Employees also receive benefits if an occupation-related accident or illness diminishes their ability to work or renders them unemployable. If the illness or injury results in death, benefits are paid to their dependents. workers' compensation pays unlimited medical expenses, and employees pay no deductibles. In New Jersey, if an employee becomes ill or is injured on the job, after seven working days they are eligible to receive weekly payments for a portion of their lost income. Payments are made according to a schedule set by the state legislature. As of January 1, 2001, the maximum weekly benefit became $591 and the minimum became $158. Employers in New Jersey can elect to use a managed care network to provide the medical benefits of workers' compensation to their employees. Managed-care systems give patients comprehensive and quality care within a network of health-care providers. Employers that utilize the managed-care option receive a minimum five percent discount on their workers' compensation premiums. New Jersey employers can purchase workers' compensation coverage through an insurance agent or broker, or directly from an insurance company. Under this system, the insurance company compensates the injured or ill employees. The alternative is for employers to be "self-insured" and pay benefits directly to employees. Self-insurance plans must comply with state regulations.
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