2017 Workers’ Compensation Reform

Lev Ginsburg, Director of Government Affairs
May 15, 2017

After making workers’ compensation reform the top priority of The Business Council’s legislative agenda, we are pleased to announce that the FY 2017-18 State Budget included language significantly reforming New York’s workers’ compensation system that will create meaningful savings for all employers in the state. The bill was approved on 4/10/17. Like all reforms of this nature, there was significant negotiation among stakeholders, the Administration and the legislature. We would like to give special thanks to the state Senate, particularly Majority Leader Flanagan and Senators DeFrancisco, Akshar and Amedore for making comp reform a top priority of the Senate and helping make it a reality. We also want to thank Assembly members McDonald and Woerner for standing firm in their house and consistently calling for relief. The cost-saving highlights of reform include:

The reform also includes provisions designed to enhance coverage for injured workers by:

Additionally, there are provisions to:

These measures have already created significant savings in year-one with a NYCIRB requested loss-cost of -4.5% for all policies beginning 10/1/17 and will continue to provide premium savings as Impairment Guidelines go into effect next January, creating an even greater annualized savings of hundreds of millions of dollars into the future. We want to thank our members and the more than 65 employer organizations and hundreds of other employers who joined our efforts to make long-sought reforms a reality.