Apr 27, 2021

Workers' Compensation Board Updates Maximum Weekly Benefit Rate Effective 7/1/2021

The maximum weekly benefit rate for workers' compensation claimants is two-thirds of the New York State average weekly wage for the previous calendar year, as determined by the New York State Department of Labor (Workers' Compensation Law §§ 2(16);15(6)).

The Department of Labor reported to the Superintendent of the Department of Financial Services that the New York State average weekly wage for 2020 was $1,594.57. Accordingly, the maximum weekly benefit rate is $1,063.05 for compensable lost time for workers' compensation claims with dates of injury during the period from July 1, 2021, through June 30, 2022.

Please note: this does not apply to VFBL/VAWBL policies.

See the original posting of this article here.

© Fleury Risk Management, LLC.

© Fleury Risk Management, LLC.