Current Workers' Compensation Rate in New York
The standard workers' compensation premium in New York is calculated at approximately $1.30 per $100 of covered payroll for the 2023 rating period, though exact rates depend on the specific job classification and the employer's claims history.
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How Rates Are Determined
Rates are set by the New York State Workers' Compensation Board and reflect three main components: the classification code for the type of work performed, the employer's experience modification factor (based on past claims), and the statewide loss cost (the base rate for each class).
Typical Rates by Common Classifications
| Classification | Base Rate ($/100 $ payroll) | Notes |
|---|---|---|
| General Office (Code 8810) | 0.55 | Low‑risk, administrative work |
| Construction – Laborer (Code 5400) | 2.20 | Higher risk due to physical tasks |
| Healthcare – Nurse (Code 8742) | 1.45 | Patient handling risk |
| Retail – Sales Associate (Code 8740) | 0.85 | Moderate risk, customer interaction |
Factors That Can Raise or Lower Your Rate
- Experience Modification Factor (EMF): Employers with fewer claims receive a lower EMF, reducing the premium.
- Payroll Size: Larger payrolls spread the premium over more dollars, often lowering the effective rate.
- Safety Programs: Certified safety initiatives can qualify for discounts.
Where to Find Your Exact Rate
Employers should consult their NYS Workers' Compensation Board account or contact their insurance carrier for the precise rate applicable to their classification codes and EMF. The board publishes an annual rate booklet that details the base rates for every classification.