A high-deductible workers’ compensation insurance plan implemented by The New York Jockey Injury Compensation Fund (NYJICF) will enable New York’s horsemen to better control their costs. According to the NYJICF, the plan is a first in the nation. Click here to view the assessment plan.
“The NYJICF is building upon the incredible progress the New York racing community has made on workers’ compensation in the past two years,” NYJICF and New York Thoroughbred Horsemen’s Association (NYTHA) President Joe Appelbaum said. “If legislation currently in place in the state is renewed as part of the budget process, the base premium charge will remain at $1,000 for NYRA-based horsemen, and the fees for the first 12 stalls will be free for all trainers.”
Trainers will also continue to receive a $300 per start credit for every off-the-board start at Aqueduct from January through March. According to the NYJICF, the plan has lowered the cost for jockeys and exercise riders by $4,000 per trainer and $500 per owner in the past two years. In addition, premiums for grooms and hotwalkers have been reduced by 36%.
NYTHA teamed with the New York Racing Association (NYRA) to approve the use of $4.15 million from the purse cushion as collateral for the high-deductible plan. Provisions in the state budget allow for funds to be used to pay for workers’ compensation for exercise riders and jockeys in New York, a total of $5 million in costs not borne directly by horsemen.
A trainer with 12 or fewer stalls who is based in New York year-round pays nothing out of pocket for workers’ compensation insurance for exercise riders, while an operation with as many 40 stalls will save nearly 75% on average.
Trainers who have questions about the NYJICF Program should contact the NYTHA office at Aqueduct on racing days.