NYSIF Delivers on Affordability for New York Businesses and Their Employees with Competitive Pricing and Faster Payments

NYSIF Reduced Disability Benefits Insurance Rates by 28% at the Start of 2026
NYSIF Has Made Over 2 Million Same-Day Payments
Paid Family Leave Claimants and Injured Workers Receive Payments Faster Than Ever

March 19, 2026 - The New York State Insurance Fund (NYSIF), the state's nonprofit and largest workers' compensation insurance carrier, today announced new milestone in its efforts to increase affordability for New York businesses and its workforce. This includes lowering by 28% NYSIF's standard Disability Benefits premium rate, which went into effect on January 1, 2026, issuing over 2 million same-day payments, and increasing by 81% the number of employees enrolled in direct deposit, the fastest way to receive benefits payments.

"While our customers face increasing financial pressures, NYSIF has been able to deliver real results on affordability," said Gaurav Vasisht, Executive Director and CEO of NYSIF. "Our reduction in premium rates provides significant cost savings for New York businesses, while increased enrollment in direct deposit enables injured workers to receive benefit payments quicker than ever before, which can help facilitate a quicker, more affordable recovery."

Mario Cilento, President of the New York State AFL-CIO said, "I commend the leadership of the New York State Insurance Fund and its unionized workforce for driving meaningful innovation that benefits workers and employers alike. By accelerating payments to injured workers, offering gender-neutral disability premium pricing, and reducing standard disability insurance rates, they are better serving today's workers."

Disability Benefits Pricing

Disability Benefits provide partial income replacement to employees who are unable to work due to an illness or injury that occurred away from work, and for disabilities related to pregnancy. NYSIF currently provides Disability Benefits coverage to over 58,000 New York employers, 97% of whom are small businesses, and more than 700,000 employees.

NYSIF's Disability rates are gender-neutral, which is unique in this insurance line, where businesses are typically charged higher rates for female employees than male. With women making up approximately half of the workforce in New York State, gender-neutral pricing means employers are not financially disadvantaged for hiring women when they choose NYSIF. In addition to Disability Benefits, NYSIF also offers Workers' Compensation insurance and Paid Family Leave for New York employers.

Faster Payments

To enhance affordability for employees, NYSIF has made significant progress encouraging paid family leave claimants and injured workers with workers' compensation claims to enroll in direct deposit. Since 2022, when NYSIF began an ongoing direct deposit promotional campaign, enrollment in direct deposit has increased 81%, nearly doubling the amount of workers enrolled. Direct deposit enables NYSIF workers' compensation, disability, and paid family leave claimants to receive benefit payments 7-10 days faster than with a mailed paper check.

NYSIF is issuing benefit payments faster than ever. At the start of 2026, NYSIF surpassed the 2 million mark for the number of Same-Day Automated Clearing House (ACH) payments, allowing faster access to benefits for injured workers and paid family leave claimants.

Today's announcement builds upon NYSIF's previously launched claim mobile app, which allows users instant access to essential information about workers' claims and benefit payments including claim number and status, case manager contact information, benefit payment dates and amounts, prescription cards, and important dates. The app also provides claimants with the ability to email or call their case manager. The app is free and available for all employees covered by NYSIF's workers' compensation, disability and paid family leave policies.

Listen to the NYSIF FUNDamental Podcast: NYSIF Delivers on Affordability to Support New York's Workforce

About NYSIF
NYSIF is the largest workers' compensation insurer in New York State and among the ten largest nationwide. NYSIF covers 2 million workers and insures 200,000 employers in New York State. NYSIF's mission is to guarantee the availability of workers' compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception over 110 years ago, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers that cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com. Follow us on Facebook, X, Instagram, YouTube and LinkedIn. Listen to the NYSIF FUNDamental podcast on your favorite streaming platform.

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