New York State requires Workers' Compensation coverage for employees, including part-time workers or family members employed by your company. This coverage pays expenses for work-related illnesses or injuries while also shielding your business from lawsuits.
New York offers very few exceptions to its Workers' Compensation requirements. A sole proprietor or partnership with no employees, no unpaid volunteers, and no sub contractors may be exempted.
Workers' Compensation coverage is based on the type of work done by an employee as well as on payroll figures. Accurate record keeping helps keep your business compliant and helps prevent underpayments for Workers' Compensation coverage.
New York state can hold an employer, business owner, or officers, liable for noncompliance, making them responsible for fines of $2,000 per 10 day period plus the cost of compensation and medical costs.
In New York, can an employee be fired while he is on Workers' Compensation?
In New York, an employer can fire an employee while receiving Workers' Compensation. However, the dismissal cannot be in violation of the Family Medical Leave Act, nor can the reason for dismissal be due to filing a Workers' Compensation claim or for being a witness in another person's claim.
What does it mean that New York is state funded?
New York State has a not-for-profit insurance agency, the New York State Insurance Fund (NYSIF). The NYSIF competes with other insurers but only provides coverage for Workers' Compensation and disability benefits.
How much does Workers' Compensation insurance cost in New York?
Workers' Compensation rates are dependent on the type of work an employee does and the payroll for that employee. Office workers may cost less to insure than construction workers, for example, due to the risk of injury associated with each role.
How do you calculate Workers' Compensation benefits in New York?
In New York, if you miss more than 7 days due to a work-related injury, you can receive compensation of up to two-thirds of your typical wages. The exact percentage is determined by a medical exam wherein your treating doctor assigns a disability percentage, ranging from 0% to 100%.