Governor Andrew Cuomo proposed reforms to workers' compensation in his State of the State report on January 9, 2013. These reforms are geared to save employers in the state money. The plan includes the closing of certain funds that the Governor says are unnecessary, as well as allowing for a bond sale to assist approximately 10,000 self-insured employers that got into serious financial trouble when some self-insured trusts (GSIT) failed in 2006. There are about 4,000 unresolved workers' comp claims at a predicted value of about $900 million. These proposed changes could allow these claims to finally be resolved and the issue brought to a close.
Another aspect of the proposed changes in workers' compensation law includes the increase of benefits for injured workers. This will be the first increase since 1999. The Governor said that his goal is to lower costs for employers doing business in the state. His plan is supposed to simplify the system, make it more efficient, equitable and create more competition for insurers in the market.
A person who has been injured on the job may or may not be impacted by these changes, but it is hoped that once implemented, the injured will have easier access to benefits, and at a higher level of compensation. In any workers' compensation claim, it is important to be protected from the various pitfalls in the current system. Long, drawn out cases, unresolved cases and delayed payments lead to a great deal of stress and concern for the injured and their families. Get help from a qualified New York workers' comp lawyer who is abreast of the proposed changes and how these changes could impact the outcome on a pending case, or a new case.
Find out more about your worker's compensation claim and the proposed changes that could impact your claim by contacting the professionals at Katz Leidman Grossman Wolfe & Freund in New York.