NY Worker’s Compensation Premiums to Decrease

This week, New York Governor Andrew Cuomo announced that the worker’s compensation premiums may decrease by 4.5 percent in an effort to save employers a combined $400 million. Last year, New York State increased the premiums but 9 percent, continuing its rank as one of the states with the highest worker’s compensation premiums in the country. In fact, for 2016, the state was ranked third highest worker’s compensation premiums.

If officially approved, the worker’s compensation premium reductions would take begin on October 1, 2017. Within the reform, there are also provisions that would make it so people less difficult for with jobs in emergency management, such as firefighters and police officers, to file claims that would allow them to receive benefits related to stress due to the nature of their jobs. In addition, another effort to save money would put a cap on any temporary worker’s compensation awards. However, permanent worker’s compensation awards will not be impacted by this reform measure.

It seems as though this is just the beginning of a potentially long worker’s compensation reform process, as officials have indicated that there is still a lot that needs to be done to improve the worker’s compensation system in New York State. If you have been injured on the job and need to consult with an attorney or have further questions about the change in legislation, contact The Law Offices of George Poulos today.

The Law Offices of George Poulos is an experienced Workers’ Compensation, personal injury, bankruptcy, and Social Security Disability law firm with offices in Queens and the Bronx. If you require strong legal representation, contact our firm today to schedule a free consultation.

This blog post was written on behalf of the Law Offices of George Poulos by Accel Marketing Solutions, Inc.