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Effective October 1, 2026, New York State’s overall average workers’ compensation loss costs decreased by 21.9%. The state estimates the change will save businesses more than $1 billion a year, or about $1,779 per policyholder on average. This is New York’s tenth consecutive annual decrease and the largest in recent years. However, 21.9% is a statewide average. How much your business actually saves will depend on your industry, payroll, claims history, and insurance carrier.