87.5 - BENEFIT INSURANCE.
87.5 BENEFIT INSURANCE.
Subject to the approval of the workers' compensation commissioner,
any employer or group of employers may enter into or continue an
agreement with the workers of the employer or group of employers to
provide a scheme of compensation, benefit, or insurance in lieu of
compensation and insurance; but such scheme shall in no instance
provide less than the benefits provided and secured, nor vary the
period of compensation provided for disability or for death, or the
provisions of law with respect to periodic payments, or the
percentage that such payments shall bear to weekly wages, except that
the sums required may be increased; and the approval of the workers'
compensation commissioner shall be granted, if the scheme provides
for contribution by workers, only when it confers benefits, in
addition to those required by law, commensurate with such
contributions. Section History: Early Form
[S13, § 2477-m43; C24, 27, 31, 35, 39, § 1471; C46, 50, 54,
58, 62, 66, 71, 73, 75, 77, 79, 81, § 87.5] Section History: Recent Form
98 Acts, ch 1061, § 11