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Insurance Plus
15 W. Main Street
Oyster Bay, New York 11771
(516) 922-1200
(212) 268-4473
Fax: (516) 922-5900
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"Your Long Island, NY
Business Group
Employee Disability
Insurance Agent"
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Personal Insurance
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Employee Benefits
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New York Mandated
Disability Insurance
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Resource Center
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New York Group Employee Insurance Specialists
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Built & Maintained by InsuranceWebsiteServices.com
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We are your local Long Island insurance agency, offering New
York Mandated Disability Insurance plan services to businesses in the following New York City area cities and counties: Oyster Bay, Huntington, Glen Cove, Port Washington, Roslyn, Syosset, Jericho, East Hills, Great Neck, South Huntington, Melville, Pinelawn, Farmingdale, Bethpage, Levittown, Lindenhurst, Babylon, Bay Shore, Islip, Northport, Hicksville, Westbury, Mineola, Garden City, Long Island City, Manhasset, Massapequa, Freeport, Lynbrook, Rockville Centre, Hempstead, Elmont, Valley Stream, Long Beach, Oceanside, Amityville, Merrick, Bellmore, Jamaica, Brooklyn, Bronx, Flatbush, Queens, Astoria, and everywhere else in Nassau County, Queens County, Kings County, New York County, Bronx County, Westchester County, and Suffolk County, NY. |
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New York State Mandated Short Term Group Disability Insurance
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The New York Disability Benefits Law requires all employees working in
New York (except for government employees and certain tax-exempt organizations) to participate in a state approved short term disability income replacement plan. |
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New York employers may satisfy this state mandate to
make short term disability insurance coverage available to their employees in one of two ways: |
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1. Use an insurance company to provide the
disability insurance coverage to their employees
2. Establish a "Private", self-insured disability
benefits law plan |
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If an employer chooses to have their employees
participate in an insured plan, the insured plan must offer at least the minimum benefits dictated by the New York Disability Benefits Law. Employees must pay the required contributions to the plan (unless the employer assumes that obligation) and also pay any additional insurance premium that may be required by the insurance company to pay for incurred claims expenses or insurance company administration costs. |
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The IRS has ruled the employer contributions to the
state plan or to a private (self-insured) plan are deductible by the employer and considered taxable income to the employee. Employee contributions to the State Fund are deductible as state taxes, while contributions to a private plan are treated as non- deductible personal expenses. |
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NY Disability Benefits Law Plan Costs
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The employee contribution rate is 0.5% of the first
$120.00 of weekly wage up to a maximum of $.60 per week or $31.20 per year. The employer contributes the remainder of plan costs, if any cost remain. |
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NY Disability Benefits Law Plan Benefits
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Benefits are paid weekly to the employee and are
equal to 50% of the average weekly wage of the employee over the last 4 weeks prior to the disability. However, the maximum weekly benefit is $170. Benefits become payable on the 8th consecutive day of disability and continue for up to 26 weeks. The maximum benefit of 26 weeks is either per disability or during any consecutive period of 52 weeks. Benefits are partially taxable and depend on the ratio of employer / employee contributions. |
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Self-Insured Private Disability Benefits Law Plan
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1. The employer plan must offer benefits at least equal to the state
mandated disability benefits law.
2. The employer can charge the employees the same or less than the state
mandated disability benefits law mandated contribution level. Employees can not be charged more unless there have been improvements in coverage.
3. The employer must agree to cover the balance of the state mandated
disability benefits law level of plan costs that are in excess of employee contributions.
4. The employer must agree to provide a guarantee bond, if required by
the state.
5. The employer must agree to pay all obligations, including benefits, fines,
expenses, and assessments imposed pursuant to the state mandated disability benefits law. |
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Click on the link below to fill out a request form to receive more
information about New York State Mandated Short Term Disability Insurance. Or you can speak with one of our New York Group Disability Insurance agent specialists at 516-922-1200 or 212-268-4473 to discuss the features. |
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Group Health for
New York Business
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Affordable
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