Compensation for injured workers paid via JPMorgan’s new product

Workers Compensation Debit Card was recently introduced by JPMorgan to enable insurance companies to use prepaid debit cards to deliver workers compensation benefits to injured or disabled workers.

With the Chase Workers Compensation Card, issued by JPMorgan insurance companies have an alternative method for paying injured workers and can reduce the costs and time associated with paper-based check distribution. As for cardholders they gain efficient, economical and reliable access to insurance payments and no longer need to wait for a check to arrive in the mail.

“The Chase Workers Compensation Card program not only delivers an automated, easy to manage electronic payments system that eliminates more expensive paper-based systems, but provides insurance companies with a custom-branded card designed to increase customer loyalty,” notes Eduardo Vergara, global commercial card executive, JPMorgan.

The Chase Workers Compensation Card can be used by customers to withdraw funds at automated teller machines (ATMs), receive cash back at retail locations, pay bills online, and make purchases at the millions of locations that accept Visa® debit cards, such as pharmacies and medical facilities. Besides, cardholders no longer pay costly check-cashing fees and can check their balances daily via a toll-free number or online.