Gary D. Finch

     FOR RELEASE: IMMEDIATELY                                                                         CONTACT: JOSH REAP (518) 455-5981

FINCH ANNOUNCES BIG SAVINGS FOR UPSTATE EMPLOYERS

Workers’ compensation reforms provide more benefits to workers, reduced costs for employers

     Assemblyman Gary D. Finch (R,C-Springport) has announced an agreement to change the state workers’ compensation system, a move that will save millions of dollars for employers while substantially improving benefits for workers.

     “The workers’ compensation reforms we have agreed to will allow us to provide additional benefits to workers hurt on the job, and encourage employers to expand their workforce by reducing historically high costs.”

     Assemblyman Finch noted that New York has the second-highest workers’ compensation cost per case and is ranked 48^th among the 50 states in benefit levels.  At the same time, the maximum weekly benefit of $400 paid to injured workers has not been increased since 1992.

     The proposal includes measures that:

·        Provide cost savings to businesses by capping permanent partial disability benefits, while continuing medical care and establishing a safety net to assist injured workers’ return to employment and intervene during cases of severe destitution

·        Increase the current maximum weekly benefit rate for injured workers from $400 to $500, and then increases it over a period of four years to two-thirds of the state’s average weekly wage

·        Annually index the benefit for injured workers to provide further increases to counter the effect of inflation and increased cost-of-living

·        Develop fact-based medical guidelines to determine the degree of impairment

·        Expedite the hearing process for claims to ensure fast delivery of compensation and treatment to injured workers encouraging their speedy recovery and return to the workforce

·        Close the outdated and costly Second Injury Fund

·        Increase penalties for workers’ compensation insurance fraud  

·        Creates transparency in the workers’ compensation system by improving collection of data on premiums and losses

      “Workers’ compensation costs are forcing companies and jobs to leave our state. Businesses and injured workers are suffering under this outdated and broken system. The changes we’ve agreed to will bring to fruition much-needed reforms.”

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