§ 211. Provision for payment of benefits. A covered employer shall,
with his or her own contributions and the contributions of his
employees, provide disability and after January first, two thousand
eighteen, family leave benefits to his or her employees in one or more
of the following ways:

1. by insuring and keeping insured the payment of such benefits in the
state fund, or

2. by insuring and keeping insured the payment of such benefits with
any stock or mutual corporation or reciprocal insurer authorized to
transact the business of accident and health insurance in this state, or

3. by furnishing satisfactory proof to the chair of the employers
financial ability to pay such benefits, in which case the chair shall
require the deposit of such securities as the chair may deem necessary
consistent with the provisions of subdivision three of section fifty of
this chapter. An association of employers or employees authorized to pay
benefits under this article or the trustee or trustees paying benefits
under a plan or agreement authorized under subdivisions four and five of
this section, may with the approval of the chair furnish such proof and
otherwise comply with the provisions of this section to provide
disability and family leave benefits to employees under such plan or
agreement.

4. by a plan in existence on the effective date of this article. If on
the effective date of this article the employees of a covered employer
or any class or classes of such employees are entitled to receive
disability and family leave benefits under a plan or agreement which
remains in effect on July first, nineteen hundred fifty, the employer,
subject to the requirements of this section, shall be relieved of
responsibility for making provision for benefit payments required under
this article until the earliest date, determined by the chair for the
purposes of this article, upon which the employer shall have the right
to discontinue the provisions thereof or to discontinue his
contributions towards the cost. Any such plan or agreement may be
extended, with or without modification, by agreement or collective
bargaining between an employer or employers or association of employers
and an association of employees, in which event the period for which the
employer is relieved of such responsibility shall include such period of
extension. Any other plan or agreement in existence on the effective
date of this article which the employer may, by his or her sole act,
terminate at any time, or with respect to which he or she is not
obligated to continue for any period to make contributions, may be
accepted by the chair as satisfying the obligation to provide for the
payment of benefits under this article if such plan or agreement
provides benefits at least as favorable as the disability and family
leave benefits provided by this article and does not require
contributions of any employee or of any class or classes of employees in
excess of the statutory amount provided in subdivision three of section
two hundred nine of this article, subdivision three, except by agreement
and provided the contribution is reasonably related to the value of the
benefits as determined by the chair. The chair may require that the
employer shall enter into an agreement in writing with the chair that he
or she will pay the assessments set forth in sections two hundred
fourteen and two hundred twenty-eight and that until he or she shall
have filed written notice with the chair of his or her election to
terminate such plan or agreement or to discontinue making necessary
contributions to its cost, he or she will continue to provide for the
payment of the disability and family leave benefits under such plan or
agreement.

During any period in which any plan or agreement or extension thereof
authorized under this subdivision provides for payment of benefits under
this article, the responsibility of the employer and the obligations and
benefits of the employees shall be as provided in said plan or agreement
rather than as provided under this article, other than the benefits
provided in section two hundred seven, and provided the employer or
carrier has agreed to pay the assessments described in sections two
hundred fourteen and two hundred twenty-eight.

Any such plan or agreement may be extended with or without
modification, provided the benefits under such plan or agreement, as
extended or modified, shall be found by the chair to be at least as
favorable as the benefits provided by this article.

5. by a new plan or agreement. After the effective date of this
article, a new plan or agreement with a carrier may be accepted by the
chair as satisfying the obligation to provide for the payment of
benefits under this article if such plan or agreement shall provide
benefits at least as favorable as the disability and family leave
benefits provided by this article and does not require contributions of
any employee or of any class or classes of employees in excess of the
statutory amount provided in section two hundred nine, subdivision
three, except by agreement and provided the contribution is reasonably
related to the value of the benefits as determined by the chair. Any
such plan or agreement shall continue until written notice filed with
the chair of intention to terminate such plan or agreement, and any
modification of such plan or agreement shall be subject to the written
approval of the chair.

During any period in which any plan or agreement or extension thereof
authorized under this subdivision provides for payment of benefits under
this article, the responsibility of the employer and the obligations and
benefits of the employees shall be as provided in said plan or agreement
rather than as provided under this article, other than the benefits
provided in section two hundred seven, and provided the employer or
carrier has agreed to pay the assessments described in sections two
hundred fourteen and two hundred twenty-eight.

6. if any plan or agreement authorized under subdivisions four and
five of this section covers less than all of the employees of a covered
employer, the provisions of this article shall apply with respect to his
remaining employees not covered under such plan or agreement.

7. Premiums for policies providing disability or family leave benefits
in accordance with this article shall be calculated in accordance with
applicable provisions of the insurance law, including subsection (n) of
section four thousand two hundred and thirty-five of such law.

8. An employer providing disability benefits coverage pursuant to
subdivision three of this section may obtain coverage for family leave
benefits separately pursuant to subdivision one or subdivision two of
this section.

The chairman may make reasonable regulations for the filing under
subdivisions four and five of this section of plans and agreements to
provide for the payment of benefits under this article.