NYSIF generates Benefit Activity Report (“BAR”) letters for all disability benefits claims in order to provide FICA information to policyholders for tax reporting purposes. These letters are created any time there is a payment from or credit to a claim, and sent to the policyholder on the day that the claim activity occurs. These letters are also created with quarterly and annual summaries and mailed to policyholders.
Registered disability benefits policyholders can now access claims payment information at any time through their NYSIF online account. Once you've logged in, simply choose "Claims Payment Report" from your home page. Enter the beginning and end dates for the period you’re interested in, and run the report with a single click. A spreadsheet will be generated containing all of the payment data normally included on the paper BAR reports.
Policyholders should notify NYSIF immediately if a claimant returns to work.