NY DFS has implemented an amendment to reflect the fee schedules put forth by the NYS Workers Compensation Board. This legislative effort was to allow for no-fault insurers to have time to study the cost to them and reduce mitigation and fee arbitration in the courts once the fee schedules were in place. It reads:
§ 68.1 Adoption of certain workers' compensation schedules
(a)(2)(i) Notwithstanding paragraph (1) of this subdivision, and except as provided in subparagraph (ii) of this paragraph, the amendments to the fee schedules set forth in Parts 329, 333, 343, and 348 of Title 12 NYCRR that were promulgated by the chair of the Workers’ Compensation Board on December 11, 2018, and the amendments to the fee schedules set forth in Parts 329, 333, and 348 of Title 12 NYCRR that were adopted by the chair of the Workers’ Compensation Board on November 19, 2019, shall take effect for purposes of Insurance Law section 5108 on October 1, 2020, and shall only apply to all charges for health services performed on or after October 1, 2020.
ASNY has heard from several members who wish to create a white paper that details the economic impact of this regulatory change. The basis for the white paper is found in the language of the Regulatory Impact Statement, featured below. If you would like to take part in this, please click on the link below to join us at BaseCamp.