NYSIF Launches New eCHECK Service for Policyholders

July 10, 2008

Now Pay Bills by Electronic Funds Transfer
New York State Insurance Fund (NYSIF) CEO/Executive Director David P. Wehner today announced a new eCHECK service for businesses. NYSIF eCHECK allows policyholders to pay workers’ compensation and disability premium by electronic funds transfer from a bank account at no charge to the customer.

“This new service is a convenient, easy-to-use method for policyholders to pay their bills without having to use a credit card or mailing a payment,” said CEO Wehner. “Completing a simple transaction through our web site saves the policyholder time and service fees or a stamp.”
 
Both workers’ compensation and disability benefits policyholders can take advantage of this new feature by visiting nysif.com. Click on “Pay My Bill” and have available your policy number, premium amount, bank account information and bank routing number. When the transaction is complete, the system will display total payment amount and issue an on-screen confirmation and printable receipt.

Policyholders can also make an eCHECK payment by phone by calling 877-309-6028. Policyholders should note that using the eCHECK option for their premium payment is a one-time deduction and does not establish a monthly payment. 

The new eCHECK service is just one more enhancement of NYSIF’s recently redesigned web site. NYSIF’s web site contains a full line up of information and services regarding workers’ compensation and disability benefits insurance for New York businesses, including sections devoted specifically to serving policyholders, claimants, brokers and medical providers for whom NYISF offers an expanding array of electronic services.

NYSIF is a non-profit agency of the State of New York that was created as part of the Workers' Compensation Law of 1914. By law, NYSIF is a competitive insurance carrier that sells workers' compensation and disability benefits insurance to any employer doing business in New York State. Approximately 190,000 employers hold NYSIF workers' compensation insurance policies, while 60,000 have active disability benefits policies.