| New York State Department of Financial Services has released the . Please note changes in regard to maximum weekly benefit, maximum covered wages and maximum employee contribution: Benefit percentage and premium rate remain unchanged for 2022.
All changes are effective January 1, 2022.
You can view the full release here. |
|
| New Maximum PFL Weekly Benefit
The maximum PFL benefit percentage in 2022 has remained unchanged at 67% of the employee’s average weekly wage, not to exceed 67% of the statewide average weekly wage, which is $1,068.36 per week. The maximum allowable duration of a PFL claim has remained unchanged at 12 weeks. The 4-year tiered PFL benefit roll-out was reached last year and will remain the same going forward unless otherwise determined by the Superintendent. |
|
| New Maximum Covered Wages
The maximum covered employee wages used in calculating the PFL contributions for 2022 have increased to $82,918. All eligible employee wages, including commissions and bonuses, up to $82,918 annually will be subject to the premium charge. |
|
| Premium Rate / Maximum Employee Contribution
The PFL premium rate for 2022 will remain unchanged at .511% (.00511). |
|
| Applicability
Keep in mind that PFL, like DBL, is a required statutory coverage. All premiums are paid through employee contributions. Failure to provide PFL coverage is subject to penalty by New York State.
Form Availability
We have begun the process of updating our systems to accommodate this new information. We feel confident that the transition into 2022 will be a smooth one. Policy documents (NYPFL-0122) will be available during the 4th quarter of 2021. |
|
BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.
Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.
BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits; 9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.
If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.
Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538
e-mail: bgesgroup@gmail.com
website: http://www.bgesgroup.com
© – Copyright – 2021 – BGES Group
