As an employer in New York, you need to know the specific workers’ compensation insurance laws that will affect your small business. Here are the basics that will help get you started.
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If you’re an employer in the state of New York, you must carry workers’ compensation coverage for your employees—unless you are considered exempt under the Workers’ Compensation Law.
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You can obtain a workers’ compensation policy through an authorized insurance carrier or through the New York State Insurance Fund. Alternatively, if you can choose to be self-insured if you’re approved by the NY Workers’ Compensation Board.
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If your business is based in another state, but you have employees working in New York, your workers’ comp coverage requirements depend on your situation, so refer to the NY Out-of-State Employers Policy guide for details.
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If you don’t carry proper workers’ compensation insurance coverage for your employees, you could be fined up to $2,000 for every 10 days without insurance.
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You could also be charged with a misdemeanor for having fewer than 5 uninsured employees—or even a felony if you have more than 5 uninsured employees (unless of course, you have exemptions).
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Once you have obtained coverage, you must post a completed “NY Notice of Compliance – Workers’ Compensation Law” form in a visible spot at your workplace.
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If an employee is injured at work, first, get medical attention. Next, immediately notify your insurance provider and/or the NY Workers’ Compensation Board. If you don’t report your employee’s injury according to the appropriate timeline, you could be fined up to $2,500.
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Remember that it is illegal to discriminate against any employee who has filed a claim or who has testified in a workers’ compensation case.
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To decrease costs and improve workplace morale, implement a return to work (RTW) program for injured employees.
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Provide the safest possible working conditions for your team. New York’s workplace safety resources can help.
*Data pulled from the New York State Workers’ Compensation Board
Thanks for reading! Please note that this content is intended for educational purposes only. As laws change regularly, you should refer to your state legislation and/or an advisor for specific legal counsel. If you’re a small business owner, learn more about workers’ compensation insurance or check your current rate in 3 minutes.
