LeadingAge NY Counsel Summarizes Workers’ Compensation Reforms
A memo from LeadingAge NY's general counsel, Hinman Straub, provides further details on the workers’ compensation reforms included in the enacted 2017-18 State Budget. As noted in a May 16th Intelligence article, the New York Compensation Insurance Rating Board recently submitted an overall workers’ compensation rate decrease of about 4.5 percent, saving New York employers an estimated $400 million this year in workers’ compensation premiums. The reduction in premium rates was attributed in part to the reforms included in the State Budget.
The Hinman memo summarizes the workers’ compensation reforms, including:
- Changes to Permanent Partial Disability (PPD) awards;
- New Permanent Impairment Guidelines reflecting advances in medicine resulting in better healing and outcomes for injured workers;
- Requiring the Workers’ Compensation Board to adopt a comprehensive prescription drug formulary by Dec. 31, 2017;
- Ensuring injured workers who are out-of-work and not receiving benefits will get a hearing within 45 days; and
- Providing relief for first responders exposed to extraordinary stress in emergency situations.
Contact: Dan Heim, dheim@leadingageny.org, 518-867-8866