New York State Insurance Fund, the state’s largest workers’ compensation carrier, is cutting its standard disability benefits premium rate by 28%. The move resets pricing across a product line that touches tens of thousands of employers statewide.
NYSIF says the reduction reflects its role as a public-purpose insurer, one built to keep mandatory coverage affordable rather than chase margin.
Under the new filing, the standard disability premium drops from a maximum of $24.75 to $17.68 per person per year. That puts NYSIF’s rates among the lowest available in New York, according to the fund.
Disability benefits cover partial income replacement when employees miss work because of illness or injury unrelated to the job, as well as pregnancy-related disabilities.
NYSIF currently writes disability benefits policies for nearly 60,000 New York employers. Scale matters here, and price moves ripple quickly.
Gaurav Vasisht, NYSIF’s executive director and chief executive officer, framed the cut as cost relief with guardrails. He said the lower 2026 rates ease financial pressure on employers while preserving broad coverage that protects workers and helps them return to work fully. It’s the kind of statement you expect, but the math behind it still lands.
Our lower disability benefit premium rates for 2026 demonstrate NYSIF’s dedication to easing the financial burden for employers across New York State
Gaurav Vasisht, NYSIF executive director and CEO
“Simultaneously, we are ensuring comprehensive coverage, safeguarding an employer’s most valuable asset whenever the need emerges so their employees can get back to work at full strength, and do what they do best,” Gaurav Vasisht said.
The fund will also keep its $60 minimum policy in place. Rates remain gender neutral, an uncommon feature in a line where coverage for women often prices higher. NYSIF didn’t sugarcoat that point. It leaned into it.
Heather Mulligan, president and CEO of the Business Council of New York State, welcomed the move. She said the lower rates preserve essential worker benefits while easing employer cost strain, and credited NYSIF with disciplined cost management and consistent value delivery.
We commend the New York State Insurance Fund for its continued focus on managing costs responsibly and delivering value to the businesses that rely on its product
Heather Mulligan, president and CEO of the Business Council of New York State
According to Beinsure, public carriers rarely adjust pricing this sharply unless balance sheets allow it. NYSIF clearly believes it has room. The market will notice.
The New York State Insurance Fund (NYSIF) is a public, not-for-profit insurance carrier that provides workers’ compensation, disability benefits, and paid family leave coverage to employers in New York State.
It operates as a self-supporting governmental insurer, competing with private carriers while also serving as a guaranteed source of coverage for employers who might otherwise struggle to obtain it.
