New York’s maximum compensation rate – for temporary total disability and permanent total disability – will go up effective July 1st to $870.61. The new, higher rate will be in effect until June 30, 2018.
How is the New York Maximum benefit Rate Calculated?
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 2016 was $1,305.92. Accordingly, the maximum weekly benefit rate is $870.61 for compensable lost time for workers’ compensation claims with dates of accident during the period from July 1, 2017 through June 30, 2018. Continue reading Don’t Forget! July 1st maximum rate change in New York.