New York State Premium Credit Programs
NYS Workers’ Compensation Law Code Rule 59 Compulsory & Code Rule 60 Premium Credit Programs
NYS Workers’ Compensation Reform Law of 1996 contained carrots and sticks to incentivize employers. The stick came in the form of the Code Rule 59 Compulsory Workplace Safety & Loss Prevention Program. Employers with Experience Modifications over 1.20 and a payroll over $800,000 are required to comply with this compulsory Workplace Safety Audit program within a specific timeline, or risk a 5% penalty upon renewal, that compounds annual until compliance is demonstrated.
The carrots under the Law are the Code Rule 60 Premium Credit Programs. These provide for 3 years of premium credits after the first year’s approved application. Subsequently, 2% credits can be applied thereafter redemonstrating compliance with requirements. Premium credits are available for Workplace Safety & Health, Return-to-Work, and Drug & Alcohol Prevention, Programs that meet the NYSDOL requirements for such programs.
We have NYSDOL Certified Specialists who can seamlessly walk you through the Code Rule 59 Compulsory program, making the most of your energies and efforts, and gain as much benefit as possible through this required procedure.
Premium Credit Programs: NYS Workers’ Compensation Law Code Rule 60 Incentive
What is this NYS Code Rule 60 Program Credit?
NYS Workers’ Comp Law Code Rule 60 allows for 3-years of premium credits, (or reduced security deposit for self-insured employers) for any, or all three of the following programs:
| Program Type | Program Year 1 | Program Year 2 | Program Year 3 |
| Safety | 4% | 2% | 2% |
| Return-to-Work | 4% | 2% | 2% |
| Drug and Alcohol Prevention | 2% | 2% | 2% |
*NYSDOL CR60 acceptable DAPP does *not require any actual drug testing
Eligible NYS employers can apply for anyone, or all 3, of these 3-year credit programs, following the above credit schedule. It can be renewed after 3 years, for an additional 3 years, at 2% each year thereafter.
NYS Workers’ Comp Law Code Rule 60 allows for premium credits, (or reduced security deposit for self-insured employers) to eligible NYS employers who have any one, or all three, of the above programs. It is a 3-year credit program, following the above schedule. It can be renewed for an additional 3 years, at 2% each year thereafter.
How can SRC Group help?
The SRC team has NYSDOL Certified Specialists in these Code Rule 60 Programs. Our consultants can help you create, update, and adjust your existing program(s) to comply with NYSDOL Code Rule 60 Incentive Program requirements, conduct the evaluation and provide the Evaluation Report towards the Premium Credit(s).
