Workers' Comp or DB?

Know the Difference

Please note: NYSIF is a New York State agency and a competitive insurance carrier (see About NYSIF), not to be confused with the New York Workers’ Compensation Board (WCB). NYSIF and the WCB are distinct, separate entities. The WCB is the regulatory authority and the source for information regarding employer obligations under the rules, regulations and laws governing workers’ compensation, disability benefits and paid family leave in New York State. Visit the Workers' Compensation Board website to learn more. 

Workers' Compensation

Workers’ compensation insurance is mandatory for most employers of one or more employees. It protects employers from liability for on-the-job injury or illness resulting in employee disability or death, and provides injured workers with monetary relief and medical benefits; in death cases, it provides survivor benefits to dependents.

Employers in New York State must meet this obligation by one of three ways:

  • Insuring with the New York State Insurance Fund (NYSIF)
  • Insuring with a private insurance carrier
  • Self-insuring, or being a member of a self-insured trust

Disability Benefits & Paid Family Leave

Disability benefits insurance is mandatory for most employers of one or more employees. It provides partial income replacement to who are unable to work due to an illness or injury that occurred away from work. This includes disabilities arising from pregnancies. Medical care is the responsibility of the claimant. Covered employers must purchase an insurance policy or apply to the chair of the Workers’ Compensation Board for approval as a self-insurer.

DB claimants are eligible for a statutory rate of 50% of their weekly wages up to a maximum benefit of $170 per week for up to 26 weeks. Employers can elect to provide enriched benefits, which provide greater maximum benefits at higher premium costs.

Paid Family Leave insurance is mandatory for most private employers with one or more employees. PFL provides claimants with job-protected, paid leave to bond with a new child, care for a loved one with a serious health condition or to help relieve family pressures when someone is deployed abroad on active military service. PFL is funded through employee payroll deductions. Employers are responsible for collecting the appropriate PFL contributions to cover the cost of the program.

PFL is not offered as a stand-alone product by NYSIF, but as a NYS-mandated rider, or an add-on, to Disability Benefits policies.

For 2022, PFL provides 67% of an employee’s weekly pay up to $1,068.36 each week for up to 12 weeks.

Use our premium calculator estimate your premium.

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