2024 PAID FAMILY LEAVE (PFL)

New York State Paid Family Leave coverage has seen incremental benefit, coverage, and premium increases over the past 4 years. The final phase of the tiered PFL implementation took place in 2021. Below is a summary of the annual premium and benefits changes for the calendar year 2024:

New Maximum PFL Benefit

The maximum PFL benefit in 2024 has remained unchanged at 67% of the employee's average weekly wage, not to exceed 67% of the statewide average weekly wage, which is $1,718.15 per week. The maximum allowable duration of a PFL claim has remained unchanged at 12 weeks.

Year	Benefit %	Maximum Weekly Benefit Payout	Benefit Duration
2018	50%	$652.96	8 weeks
2019	55%	$746.41	10 weeks
2020	60%	$840.70	10 weeks
2021	67%	$971.61	12 weeks
2022	67%	$1,068.36	12 weeks
2023	67%	$1,131.08	12 weeks
2024	67%	$1,151.16	12 weeks

https://www.dfs.ny.gov/apps_and_licensing/health_insurers/pfl_rate_decision_2024_page

Maximum Covered Wages

The maximum covered wages for PFL contributions for 2024 have increased to $89,344 (rounded to the nearest whole dollar). All eligible employee wages, including commissions and bonuses, up to $89,344 annually, are subject to premium charge.

Year	Maximum Annual Covered Payroll
2018	$67,908
2019	$70,570
2020	$72,860
2021	$75,409
2022	$82,918
2023	$87,786
2024	$89,344

https://dol.ny.gov/new-york-state-average-weekly-wage-nysaww-0

Premium Rate / Maximum Employee Contribution

The PFL premium rate for 2024 and the maximum employee contribution has been decreased.

Year	Maximum Annual Covered Payroll	Premium Rate	Maximum Annual Employee Contribution
2018	$67,908	.00126	$85.56
2019	$70,570	.00153	$107.97
2020	$72,860	.00270	$196.72
2021	$75,409	.00511	$385.34
2022	$82,918	.00511	$423.71
2023	$87,786	.00455	$399.43
2024	$89,344	.00373	$333.25

https://www.dfs.ny.gov/apps_and_licensing/health_insurers/pfl_rate_decision_2024_page

When?

All changes are effective January 1, 2024.

Who?

Keep in mind that PFL, like DBL, is a required statutory coverage. All premium is paid through employee contributions. Failure to provide PFL coverage is subject to penalty by New York State.

We have begun the process of updating our systems to accommodate this new information. We feel confident that the transition into 2024 will be a smooth one. Policy documents will be available during the 4th quarter of 2023.

Feel free to contact us if you haev any questions or concerns. We have a dedicated team of service specializes ready and willing to assist you. Thank you for choosing Standard Security.