Does your insurance company offer a Workers’ Compensation direct deposit or debit card? Well, they should! As technology advances, there are more and more convenient ways to do banking. Waiting for that check every week can be unpredictable and even frustrating, let alone making it to the bank and waiting for them to process it. A direct deposit or debit card could be a more predictable way to receive — and budget — wage loss benefits.
If your carrier were to offer direct deposit or a debit card, would you be interested? That offer, in 2011, would be a little behind the times. Most Social Security Disability recipients nowadays are required to receive their benefits by direct deposit. Child support recipients in PA are offered a debit card for their payments. This enables them to have immediate access to their funds.
Late checks are a frequent problem for workers’ compensation recipients. Sometimes a check arrives late because of mail delivery, especially around the worst time of year: the holidays! Having an immediate electronic transfer alleviates the stress of hoping that check arrives on time.
Of course, these programs benefit not just claimants, but also the the insurer, as they reduce their check printing and mailing costs. So direct deposit and debit cards make sense for everyone involved.