2019 New York State Paid Family Leave Updates

By | Employee Benefits, Insurance News

Year 2 of New York State’s Paid Family Leave On August 31st, New York’s Department of Financial Services (DFS) published the NY Paid Family Leave (PFL) rate for the 2019 calendar year. For 2019, the maximum contribution rate for Paid Family Leave will go from 0.126% to 0.153% of the employee’s gross annualized wages capped at the new annualized New York State Average Weekly Wage (NYSAWW) of $70,569.72* per year (learn more here);  which translates to a maximum annual premium contribution of $107.97 per employee. The rate for Paid Family Leave has been increased 21.4%. This takes into consideration the increase of benefits for 2019 which has also…

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New York Paid Family Leave

By | Employee Benefits

New York Paid Family Leave Commences New York Paid Family Leave has officially begun (Jan. 1st 2018). But…what is it? I’ve talked to a large number of employers and an even larger number of employees who have no idea what it is. Like most insurance coverage, understanding New York Paid Family Leave seems like a daunting task. However, after a thorough review, I can tell you, it isn’t. What is New York Paid Family Leave? New York Paid Family Leave is a mandatory benefit for non-public employees. It provides wage replacement when temporarily leaving work for a specific life event….

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Can you get your staff more than the paltry $170/wk in New York short-term disability?

By | Business Insurance, Employee Benefits

Question 67 in 100 Insurance Questions in 100 Days Video Series! I don’t know about you, but I would not be able to survive on $170/wk even without kids and a wife. If I were to become injured or sick and not be able to work for a few months, and that was all I had to live off of…things would get ugly. However, many small business owners do not realize how simple and inexpensive it is to bring that $170 up to an amount more in line with what the typical persons expenses are. Watch this video to see…

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Does my business need short-term disability insurance?

By | Business Insurance, Employee Benefits

When do we have to offer New York short-term disability benefits? New York short-term disability insurance is a required benefit. Anyone who runs or operates a business with employees must carry it. It provides a temporary benefit for anyone who becomes injured or disabled off the job. Unlike workers’ comp, where you end up getting hurt or ill due to something that happens while at work, this is coverage for anything that happens to you pretty much anywhere at any time. Rules for New York short-term disability Basic coverage equals 50% of the employees weekly pay. However, $170 per week…

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