New York PAID FAMILY LEAVE
New York’s Paid Family Leave Benefit Law (“PFL”) will take effect on January 1, 2018. Private employers with at least one employee will be required to provide PFL coverage to its eligible employees. This coverage provides wage replacement to employees to help them bond with a child, care for a close relative with a serious health condition, or help relieve family pressures when someone is called to active military service. Employees are guaranteed the ability to return to their job and continue their health insurance. The premium for PFL will be fully funded by employee contributions, which employers can begin deducting from their pay on July 1, 2017.
The New York Department of Financial Services has determined that the premium rate and maximum employee contribution for coverage beginning January 1, 2018 will be 0.126% of an employee’s weekly wage up to and not to exceed the statewide average weekly wage. The statewide average weekly wage as of July 1, 2017 will be $1,305.92
The PFL coverage will be included under your existing New York Disability Benefits Law policy. Standard Security Life Insurance Company of New York (“Standard Security”) expects to provide you with coverage documents by fourth quarter 2017. The Workers’ Compensation Board (“WCB”) will be releasing certain forms and/or posting notices that Standard Security, as your carrier, will send to you. Standard Security anticipates that these forms will be sent at the same time as the coverage documents.
If you are not aware of this required benefit, or wish to learn more, please visitwww.ny.gov/programs/new-york-state-paid-family-leave. We also invite you to visit the PFL page of our website, which will be updated regularly, at www.sslicny.com
Please know that Standard Security is committed to administering the Paid Family Leave coverage as well as it currently handles your New York Disability Benefits policy. Thank you for allowing us to continue to serve you.
The above is for information purposes only and does not constitute legal advice. Please consult with a professional for legal advice and counsel. Please be advised that the WCB’s proposed Paid Family Leave regulations have not yet been finalized and are subject to a 30-day comment period