Author Topic: NYS Paid Family Leave  (Read 5272 times)

Offline mgarfin

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NYS Paid Family Leave
« on: April 19, 2018, 10:48:46 AM »
« Last Edit: April 19, 2018, 10:54:25 AM by mgarfin »

Offline mgarfin

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Re: NYS paid family leave
« Reply #1 on: April 19, 2018, 10:53:05 AM »
As an executive officer of a corporation, I am exempt from workers comp.

I'm not sure if I am exempt from disability. I believe paid family leave is part of the disability insurance.

What I'm trying to figure out is, can the executive officer of a corporation take paid family leave?

Offline mgarfin

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Re: NYS Paid Family Leave
« Reply #2 on: April 19, 2018, 11:00:52 AM »
I found this

Self-Employed Individuals (including sole-proprietors and independent contractors):
If you are a self-employed individual with employees, are you required to get Paid Family Leave coverage?
Self-employed persons with employees must obtain Paid Family Leave coverage for their employees, but are exempt from Paid Family Leave for themselves.

To voluntarily obtain coverage for disability benefits and PFL benefits for yourself, you must formally opt in by submitting voluntary coverage forms (available here) to the Workers’ Compensation Board. You must opt in for both disability and Paid Family Leave benefits or neither. After opting in, you should purchase PFL coverage from an insurance carrier. For a list of insurers offering Paid Family Leave policies, visit the PFL section of the Department of Financial Services website.


Is a corp officer with 100% shares considered a Self-Employed Individual?

Offline Yehuda25

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Re: NYS Paid Family Leave
« Reply #3 on: October 25, 2018, 01:01:38 AM »
This is B"ah a pretty amazing benefit, though can't imagine how itll be self funded as they claim.
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Offline mgarfin

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Re: NYS Paid Family Leave
« Reply #4 on: October 25, 2018, 07:30:39 AM »
My premium tripled

Offline gozalim

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Re: NYS Paid Family Leave
« Reply #5 on: October 25, 2018, 08:44:09 AM »
My premium tripled
to 95 cents?
Or your premium as employer?

Offline ADG

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Re: NYS Paid Family Leave
« Reply #6 on: October 25, 2018, 11:56:13 AM »
It is covered through a third party insurance agent.

This is B"ah a pretty amazing benefit, though can't imagine how itll be self funded as they claim.

Not many ppl having babies these days but everyone pays the tax... (Not saying your wrong)

Offline EJB

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Re: NYS Paid Family Leave
« Reply #7 on: October 25, 2018, 12:29:12 PM »
It is covered through a third party insurance agent.

Not many ppl having babies these days but everyone pays the tax... (Not saying your wrong)

For 2019:
Maximum benefit is ~70k x 10/52 x 50% = 6.7k
Maximum premium is 108

So they're assuming, on average, around 1 in 100 employees will use it in a given year to the fullest. Obviously most people won't be eligible for it at all, many who will won't be using it for a variety of reasons (e.g., their employer has a similar plan, they're eligible for statutory disability, they won't want the salary reduction, they won't use the full period). If you assume about the average person:
* Will use it 2/40 working years
* Half will use it altogether
* Avg will use it for 5 weeks

You're pretty much at self funding adding expenses to the mix.

Offline Yehuda25

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Re: NYS Paid Family Leave
« Reply #8 on: October 25, 2018, 09:04:41 PM »
It is covered through a third party insurance agent.

Not many ppl having babies these days but everyone pays the tax... (Not saying your wrong)
you are missing that there are a bunch of covered reasons... not just babies
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Offline Yehuda25

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Re: NYS Paid Family Leave
« Reply #9 on: October 25, 2018, 09:04:54 PM »
For 2019:
Maximum benefit is ~70k x 10/52 x 50% = 6.7k
Maximum premium is 108

So they're assuming, on average, around 1 in 100 employees will use it in a given year to the fullest. Obviously most people won't be eligible for it at all, many who will won't be using it for a variety of reasons (e.g., their employer has a similar plan, they're eligible for statutory disability, they won't want the salary reduction, they won't use the full period). If you assume about the average person:
* Will use it 2/40 working years
* Half will use it altogether
* Avg will use it for 5 weeks

You're pretty much at self funding adding expenses to the mix.
Interesting.
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Offline mgarfin

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Re: NYS Paid Family Leave
« Reply #10 on: October 26, 2018, 01:15:27 AM »
to 95 cents?
Or your premium as employer?

employer

Offline gozalim

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Re: NYS Paid Family Leave
« Reply #11 on: October 26, 2018, 02:19:09 AM »
employer
so an employer where %20 of employees are claiming this each year (think morahs) will have some high premiums pretty soon...

claiming this is no less 'harmful' to the employer than other forms of insurance claim (workers comp, unemployment, disability)?

Offline mgarfin

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Re: NYS Paid Family Leave
« Reply #12 on: October 26, 2018, 07:37:53 AM »
so an employer where %20 of employees are claiming this each year (think morahs) will have some high premiums pretty soon...

claiming this is no less 'harmful' to the employer than other forms of insurance claim (workers comp, unemployment, disability)?

Even an employer that nobody claims PFL had his disability triple
« Last Edit: October 26, 2018, 08:51:07 AM by mgarfin »

Offline Meno

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Re: NYS Paid Family Leave
« Reply #13 on: October 31, 2018, 10:16:57 AM »
Can someone please explain to me why this is better for me as an employee than disability benefits?

Layman's terms please. Assume I'm ignorant and stupid

Offline grodnoking

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Re: NYS Paid Family Leave
« Reply #14 on: October 31, 2018, 10:17:50 AM »
Can someone please explain to me why this is better for me as an employee than disability benefits?

Layman's terms please. Assume I'm ignorant and stupid
It is basically disability benefits but for short term things that were not covered previously. Stuff that's nothing to do with a disability.
I'm not who you think I am.

Offline Meno

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Re: NYS Paid Family Leave
« Reply #15 on: October 31, 2018, 10:38:44 AM »
It is basically disability benefits but for short term things that were not covered previously. Stuff that's nothing to do with a disability.

If I have a choice between one or the other, which is better?

Offline grodnoking

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Re: NYS Paid Family Leave
« Reply #16 on: October 31, 2018, 11:17:57 AM »
If I have a choice between one or the other, which is better?
Disability seems to be much less per week than Paid Family Leave, but it will work continuously for much longer than Paid Family Leave. All in all you never know if you're going to need to disability leave but if you are young and building a large Jewish Family your chances are that you'll be using Family Leave more than disability leave. A disclaimer right here is I have not really come through the terms and conditions of both of them and he's so up thoroughly but just from the basics of what I read this would be my opinion. And obviously as usual don't do anything that affects your life based on an opinion of a random stranger on the internet.
I'm not who you think I am.

Offline Yehuda25

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Re: NYS Paid Family Leave
« Reply #17 on: October 31, 2018, 11:56:21 PM »
Disability seems to be much less per week than Paid Family Leave, but it will work continuously for much longer than Paid Family Leave. All in all you never know if you're going to need to disability leave but if you are young and building a large Jewish Family your chances are that you'll be using Family Leave more than disability leave. A disclaimer right here is I have not really come through the terms and conditions of both of them and he's so up thoroughly but just from the basics of what I read this would be my opinion. And obviously as usual don't do anything that affects your life based on an opinion of a random stranger on the internet.

Ok, for those that want to know something about the programs  - disability doesnt pay much ($175 a week IIRC)

PFL - Can (in 2018) Pay upto $770 or so per week (based on 50% of your salary and capped at the state average)
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Offline Yehuda25

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Re: NYS Paid Family Leave
« Reply #18 on: February 11, 2019, 10:33:19 PM »
Ok, for those that want to know something about the programs  - disability doesnt pay much ($175 a week IIRC)

PFL - Can (in 2018) Pay upto $770 or so per week (based on 50% of your salary and capped at the state average)
Great infographic here -

https://pfl.shelterpoint.com/blog/dbl-pfl
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Offline Yammer

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Re: NYS Paid Family Leave
« Reply #19 on: October 27, 2019, 11:10:02 PM »
If Shelter Point payment due date is October 27.

Does the payment need to be in by today, or it takes a few days until it cancels