Hamberger & Weiss LLP

NWCDN Logo

Reminder - Board Allows Direct Deposit of Indemnity and Death Benefits

As of July 1, 2021, injured workers and those persons entitled to a death benefit will have the right to have indemnity payments directly deposited into at least two bank accounts.  The Board adopted a new direct deposit regulation, 12 NYCRR 300.26, which requires carriers, self-insured employers, third party administrators and Special Funds, including the UEF, to make direct deposit available to all injured workers or persons entitled to a death benefit pursuant to an Election Form to be prescribed by the Board. The Board also requires that a one-time Notice be provided to all such persons. Neither the Election Form nor the specific format of the Notice are published to date, but the requirements of both are delineated in the new regulation. Carriers/SIEs/TPAs may use the current Direct Deposit and Debit Card Authorization Form (DD-1) already available and may include whatever additional elements they find appropriate, as long as the regulation requirements are met.  

While we recommend detailed review of the regulation, of note are the following: 

Should you have any questions about this issue, please do not hesitate to contact our partner Susan Parzymieso at 716-852-5200 or sparzymieso@hwcomp.com.

Back to News

Copyright © 2021 Hamberger & Weiss LLP