October 25, 2013
By Stephanie West
New York, NY, — The New York Workers’ Compensation Alliance applauds Governor Cuomo and the New York State Workers’ Compensation Board for reducing employer workers’ compensation assessments by over 25%, resulting in a savings of $300 million to New York employers.
The reduction in assessments was due to the closure of the Reopened Case Fund and streamlining the assessment process, which were achieved in the 2013-2014 state budget.
“It has been clear since the 2007 reforms that closure was needed for the Reopened Case Fund,” said WCA Chair Robert Grey. “Insurers were using it to transfer liability to employers at an increasing pace, and without the Governor’s action employer costs would have skyrocketed. Instead, a common-sense reform has cut costs by over a quarter-billion dollars.”
WCA Board Member Brian Mittman added that closure of the Reopened Case Fund has been a priority for several years. “Closing the Fund has been on our agenda since 2009,” said Mittman. “It’s good to see the outcome, as well as the results of the Board implementing the new assessment process.”
Western New York WCA Board Member Greg Connors noted that when employers have “cradle to grave” responsibility for their own claims, instead of spreading the cost to others, “they have a greater incentive to provide safe workplaces, reducing the incidence of injuries.”