Maximum Benefit Increases to $803.21 (effective July 1)
The maximum workers’ compensation weekly benefit is two-thirds of the prior year’s New York State Average Weekly Wage (SAWW). The NYS Department of Labor has determined that the 2013 SAWW was $1,212.98, up 1% from 2012. As a result, the maximum weekly benefit for claims with a date of accident or disability from July 1, 2014 through June 30, 2015, is $808.65.
This benefit has more than doubled in the past seven years. Because Scheduled Loss of Use Award are calculated by multiplying the temporary total disability rate by weeks of compensation, for high wage earners the value of scheduled losses has doubled in that time frame, significantly increasing costs to business in New York.
Minimum Benefit Remains $150
The 2013 Business Relief Act increased the minimum weekly benefit to $150. The new minimum weekly benefit applies to workers’ compensation claims with dates of accident or disability on or after May 1, 2013. The minimum benefit is subject to the existing limitation that the injured worker’s weekly benefit plus any actual earnings (or earning capacity) may not exceed the injured worker’s average weekly wage at the time the injury.