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Where does the money come from to pay workers compensation benefits?

April 26, 2017Benefits compensation money pay Workers

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Where does the money come from to pay workers compensation benefits?

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State laws require one of three payment methods or a combination thereof. Employers may need to carry workers’ compensation insurance; employers may self-insure by setting up a fund sufficient to cover outgoing benefits; or the state may administer its own fund into which employers are required to pay.