The first question on many people's mind after a work injury or work related medical diagnosis is "how much does Workers' Comp pay?" A Workers' Comp payment calculator (also known as a "Lost Wages calculator") may generate estimates that may not be applicable to the specifics of your case. Find out below how Workers' Comp payments are calculated, based on each person's work history and income.
Figuring Out How Much You Could Get Paid on Workers' Comp Can Get Complicated.
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You also don't have to worry about attorney fees. At MCV Law, our Workers' Comp lawyers don't get paid until you get paid. Your attorney fees will also be covered by a small percentage of your benefits.
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How a Workers' Comp Payment Calculator Works
When you’re out of work for more than 7 days, the law requires the carrier to pay benefits. Typically, lost wage benefits are paid every two weeks. Your lost wage benefit is calculated by looking at both your Average Weekly Wage and your degree of physical impairment.
In NY state, a Lost Wage calculator for Workers' Comp is primarily based on two factors:
- Your Average Weekly Wage
- Degree of Temporary Impairment
Your Average Weekly Wage is your income before taxes, on average, for the past year before your work injury. The higher your income before taxes within the year before your work injury, the more Workers' Comp benefits you receive.
If you don’t know your Average Weekly Wage, MCV Law can help you find it.
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Once your average weekly wage has been estimated, your weekly benefit can be approximated by using your level of impairment or disability. This value can be found in the report created by your medical provider and is usually expressed as a percentage.
The second part of the Lost Wage calculator for Workers' Compensation, Degree of Temporary Impairment, is typically shown as a percentage. For example, 100% temporary total disability means you're unable to work any job. The percentage for degree of temporary impairment can be based on your doctor's opinion, as well as the opinion of an Independent Medical Examiner.
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An Example of How the Lost Wages Calculator Works
If your degree of impairment is determined to be 100%, your Workers' Compensation lost wage benefits are equal to two-thirds of your Average Weekly Wage. These payments are paid weekly and are not taxable.
However, New York Workers' Compensation also sets minimum and maximum weekly benefit amounts based on the date of your injury or work-related diagnosis.
Maximum weekly benefit amounts:
- If your injury or diagnosis occurred between July 1, 2024 and June 30, 2025, the maximum weekly benefit is $1,171.46.
- If your injury or diagnosis occurred between July 1, 2025 and June 30, 2026, the maximum weekly benefit is $1,222.42.
Minimum weekly benefit amount:
- If your injury or diagnosis occurred on or after January 1, 2025, the minimum weekly benefit is $325 per week.
Both the minimum and maximum benefit amounts are adjusted annually, so the exact amount you may receive depends on the date your work injury or work-related diagnosis occurred.