The New York Jockey Injury Compensation Fund (NYJICF) continues its high-deductible workers' compensation insurance plan in 2021 enabling New York's horsemen to better control their costs.
“The NYJICF is building upon the incredible progress the New York racing community has made on workers' compensation in the past three years”, NYJICF and New York Thoroughbred Horsemen's Association (NYTHA) President Joe Appelbaum said. The NYJICF was able to secure a 15% premium reduction for 2020 to help offset the weeks of racing lost to the COVID-19 pandemic.
Essentially, the program benefits remain the same for 2021″
- The base premium charge will remain at $1,000 for NYRA-based horsemen.
- The fees for the first 12 stalls will be free for all trainers for the entire year.
- Trainers will 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 also teamed with the New York Racing Association to approve the use of $2.25 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.
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