Workers’ Compensation Reform Takes Effect
NEW YORK—Workers’ compensation premium rates for New York state employers will be reduced for the first time in four years. The rates, adjusted annually, will decrease by 1.2 percent at the start of the next policy year.
“At a time when many states are gutting their workers’ compensation systems, New York is working to continually improve our workers’ compensation system for employers and employees,” said Benjamin M. Lawsky, New York state superintendent of the Financial Services.
A variety of factors determine the premium rates, such as experience in the marketplace, cost-cutting measures, and new policies and procedures.
At the same time, the final measures of the 2007 Workers’ Compensation Reform Law, which give benefit increases for injured workers and cost reductions for businesses, have been implemented by the state.
Robert Beloten, chair of the state’s Workers’ Compensation Board, said the changes to the legislation have made a difference.
“Prior to the reform, lost wage benefits were insufficient for injured workers, yet the system has had uncontrollable medical and indemnity costs,” Beloten said in a press release from Gov. Andrew Cuomo’s office. “It was an unsustainable system that did not work for the employer or the injured worker.”
The Epoch Times publishes in 35 countries and in 19 languages. Subscribe to our e-newsletter.
[etInfoTable]Follow @EpochTimesNY on Twitter
Find us on Facebook: www.facebook.com/EpochTimesNY
Please send news tips to [email protected] [/etInfoTable]
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).