NY Workers Compensation Self-Insured Members Benefit

Ed WinslowUpdates

Governor Cuomo’s recently enacted NYS Budget provides $200 million in NYS Assessment relief for former NY workers comp self insured trust members.

While members of insolvent trusts remain joint and several liable for the underfunded claims of their particular trusts, their NYS Workers Comp Assessment charges will be cut considerably.  Self – Insured members of solvent and inactive trusts will also benefit from the Governors budget measures.

The self insured budget legislation also outlines strict financial safeguards for remaining self funded groups to avoid future insolvencies.  To get more details information regarding the recent workers compensation self-insured budget legislation