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New York Increased Workers Compensation Benefits

08 Nov


Update Applicable to:  

All New York employers and multi-state businesses that have at least 1 employee in the State of New York.

What happened?

Governor Hochul signed legislation which increased the benefits for workers compensation under New York law.

What do employers need to do?

Employers should prepare to comply by the new standards and beware of the possible risks that these recent changes may imply. Employers should consult their trusted employment attorney for legal advice if necessary.

What are the details?

The new legislation increases the minimum benefits for workers compensation to better protect workers who are injured and cannot work. The minimum benefits for permanent or temporary partial disability will see a phased increase.

Per the legislation, the minimum benefits for a permanent or temporary partial disability will increase as follows:

  • 01/01/2024 — $275
  • 01/01/2025 — $325
  • 07/01/2026 — increased to one-fifth of the state average weekly wage.

The minimum benefit will rise from the current $150 rate to $275 for accidents or disablement from occupational disease claims occurring on or after January 1, 2024, followed by an uptick to $325 in 2025. Starting in 2026, it will culminate at one-fifth of the state’s average weekly wage, unless an employee’s wage is less than $250 per week, in which case employees will receive the full amount of their weekly wage.

This will significantly impact the worker’s compensation system, predominantly funded by employers.

For more information, please see the links below:

Law Firm Articles: Article 1, Article 2, Article 3

Need help understanding how changes to employment laws will affect your business?

Learn more about how Vensure's New York PEO services can help you navigate complex employment laws and keep your business compliant.

This communication is intended solely for the purpose of conveying information. The present post might incorporate hyperlinks directing readers to websites managed by third-party entities. The inclusion of any links within this communication is meant to serve as points of reference and could encompass opinion articles from various law firms, articles from HR associations, official websites, news releases, and documents of government agencies, and other relevant third-party sources. Vensure has no authority over these external websites and bears no responsibility for their content. Furthermore, Vensure does not endorse the materials present on these websites. The contents of this communication should not be interpreted as legal advice or as a legal standpoint concerning specific facts or scenarios. Nor should it be deemed an exhaustive compilation of facts potentially pertinent to federal, state, or local laws. It is strongly advised that employers solicit legal guidance from an employment attorney when undertaking actions in response to any legal updates provided. This is due to the possibility of future alterations occurring in federal, state, and local laws, regulations, as well as the directives and guidelines issued by governing agencies. These changes may transpire at any given time, potentially rendering certain portions of the content within this update void or inaccurate.

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