DB Standard Premium Rates

For qualified employers, the standard premium rate for NYSIF disability benefits insurance for new or renewal policies is $0.14 per $100 of payroll for male and female employees, a gender-neutral, benchmark low rate in New York State.

Statutory disability benefits insurance pays a maximum weekly benefit of $170 for up to 26 weeks for employees who are disabled by off-the-job injury or illness, and for disabilities arising from pregnancies. Medical care is the responsibility of the claimant.

Capped Wages

Annual premium is based on the total estimated annual wages for your employees, capped at $340 per week or $17,680 annually for each employee. Qualified employers pay $24.76 per employee annually for employees earning $340 or more per week.

Report each employee’s wage individually if less than $17,680. Premium is prorated for seasonal employees and employees earning less than $340 per week. The minimum annual premium for a NYSIF statutory disability benefits insurance is $60.

Policyholders with a three-year claims average that is greater than the estimated premium may be subject to a premium differential until claims average improves.

Estimating Premium

Total annual capped wages (limited to $17,680 per employee) are estimated and multiplied by the standard rate. Estimated annual premium is adjusted after the policyholder submits a payroll report of actual employee wages at the end of the policy period. Employee wages include the reasonable value of tips, board, housing or other measurable compensation received from employment. Our wage calculator can help you estimate the price of your policy.

Calculate Your Premium

NYSIF requires a three year loss-run history from a new applicant’s former insurance carrier. NYSIF reserves the right to apply a premium differential above standard rates to policies that have an unfavorable claims history.

Questions about your premium?

Please refer to the new business or renewal information page of your policy packet for detail about your rates and premium. As a reminder, premium is based on estimated payroll and will be confirmed when you report your payroll at the end of your policy period. If you have any additional questions about your premium, please contact your NYSIF underwriter.

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