March 20, 2018

WorkCompRecap: Regulating Relief!

Today’s issue of WorkCompRecap features New York Governor Cuomo’s recent detailing of measures that will reduce the cost to employers under the State’s workers’ compensation system, including The Business Relief Act, which cuts the assessment to employers from 18.8% to 13.8%, the largest reduction since 1998.

According to Cuomo, the Act will create $800 million in savings by reducing the cost to operate the workers’ compensation system in two ways: the closing of the Re-Opened Case Fund, which will save $300 million annually, and simplifying the system used to calculate employer assessments, which will realize a one time savings in claim reserves of $500 million for self-insured employers in the state.

Find out more by clicking here!

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