1. What is NYSHIP Sick Leave Credit?

The NYSHIP (New York State Health Insurance Program) Sick Leave Credit allows employees to use accumulated sick leave to pay for health insurance premiums during retirement.

2. How Does the Calculator Work?

The calculator uses the NYSHIP formula:

Where:

• \( Sick\ Days \) — Number of accumulated sick days
• \( 260 \) — Standard number of work days in a year
• \( Monthly\ Premium \) — Current monthly health insurance premium

Explanation: The formula converts sick days into an equivalent dollar amount that can be applied toward health insurance premiums.

3. Importance of Sick Leave Credit Calculation

Details: Accurate calculation helps employees plan for retirement by understanding how much of their health insurance can be covered by accumulated sick leave.

4. Using the Calculator

Tips: Enter your total accumulated sick days and current monthly premium. Both values must be non-negative numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the 260 divisor based on?
A: It represents the standard number of work days in a year (52 weeks × 5 days).

Q2: Can I use partial sick days?
A: Yes, the calculator accepts decimal values for sick days.

Q3: Does this credit apply to all NYSHIP plans?
A: Generally yes, but you should verify with your benefits administrator.

Q4: How often should I recalculate this?
A: Whenever your sick leave balance or premium amount changes significantly.

Q5: Is this credit taxable?
A: You should consult a tax professional as rules may vary based on individual circumstances.