Assemblyman Fred Thiele, Jr, Chair of the Assembly Small Business Committee, applauded the action by the New York Compensation Insurance Rating Board (CIRB), a non-governmental rate service organization to submit an overall workers’ compensation rate decrease of approximately 4.5 percent, which will save New York employers about $400 million this year in workers’ compensation premiums. In its rate filing, CIRB attributed the reduction in premium rates to certain cost savings measures passed as part of the 2018 budget. The rate submission must still be reviewed and approved by the Department of Financial Services and, if approved, would become effective October 1, 2017.

Workers' compensation premium rates are determined on an annual basis and take into account recent claims experience as well as implementation of any new policies and procedures. The 2018 Budget specifically addresses cost by applying limits to temporary disability payments prior to a permanency award, while providing an exemption process for the most seriously injured.

The budget also includes better protections for injured workers by:

• Expanding the safety net for seriously injured workers, so more are eligible to apply for reconsideration for lifetime benefits when their benefit caps are set to expire.
• Ensuring injured workers who are out-of-work and not receiving benefits will get a hearing within 45 days.
• Providing relief for first responders exposed to extraordinary stress in emergency situations.

• Strengthening the administrative tools available to the Board in its efforts to provide swift and appropriate delivery of benefits to injured workers.

The budget requires the Workers’ Compensation Board to publicize new permanent impairment guidelines to reflect advances in modern medicine that result in better outcomes. In addition, to ensure that injured workers receive high quality, cost effective medications, the Board will establish a prescription drug formulary.