New York Carriers Request For Benefit Increase Reimbursement (51) is a document that allows insurance carriers to submit requests for reimbursement rate increases to the New York State Department of Financial Services (DFS). The document includes detailed information on the requested rate increase, including the company’s name, policy type, carrier code, and a description of the proposed increase. Carriers must also provide evidence to support the requested rate increase. The types of New York Carriers Request For Benefit Increase Reimbursement (51) include: small group medical and health benefit reimbursement requests, large group medical and health benefit reimbursement requests, and professional health benefit reimbursement requests. The DFS reviews the requests and makes a determination on the validity of the rate increase. Once approved, the request is applied to the insurance policy and the reimbursement rate is adjusted accordingly.
New York Carriers Request For Benefit Increase Reimbursement ( 51)
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FAQ
If you filed a claim and were assigned a number, you can call (646)264-3000 for information about your claim. If you are a U.S. Department of Labor employee, please call (816)502-0301 for claim status information.
The Special Disability Fund reimburses insurers for claims with dates of accident before 7/1/2007 where the claimant was classified as permanently partially disabled (WCL §15(8)) or where the insurer is liable for paying concurrent employment benefits (WCL §14(6)).
What is the purpose of the Expanded Provider Law? The Law is designed to modernize and improve the workers' compensation health care options available to injured workers. It is expected to bring thousands of new providers into the NYS Workers' Compensation system.
NYSIF is a self-supporting insurance carrier that competes with private insurers in the workers' compensation and disability benefits markets. Operating income is derived solely from insurance premiums and investments. NYSIF is the largest provider of workers' compensation insurance in New York State.
Compensation Rates An injured employee is entitled to a compensation rate equal to two-thirds of the average weekly wage (AWW) in New York State for the 52-week period immediately prior to the date of accident. The rate is subject to prescribed maximums and degree of disability.