Save on Rising Workers' Comp Premiums
Join OPA's Group Rating Program
Workers' compensation costs continue to rise for Ohio employers. In March, the Ohio Bureau of Workers' Compensation (BWC) Oversight Commission announced it will raise premiums an average of 3.9 percent for private employers as of July 1, 2006. The BWC expects the increase to offset rising medical costs and lower investment returns. In addition, the Bureau has either reduced or eliminated dividend credits for the past several years, and dividends are expected to be suspended or severely reduced for upcoming payroll periods, as well.
Fortunately, employers have options. With our multiple tiers, saving from 17 to 90 percent off premiums, we can pinpoint the greatest discount for which you are eligible, up to the BWC's maximum allowed discount. Even if you have claims, our range of discount levels enables us to place most companies in our group.
Group rating is a benefit to OPA members. Last year, members of our program saved an average of $13.57 for every $1 invested in group rating. Also, with our group, members pay no additional dues to join, which you may be doing if you are in another group rating program.
To find out how much you can save, contact our program administrator, The Frank Gates Service Company, for a free, no-obligation savings estimate. Call them at 1.800.395.4119, or visit $$Link
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When you join OPA's group rating program, you are also partnering with the experts at Frank Gates for comprehensive claims and risk management services, which can help you maintain your future group eligibility. Frank Gates will also determine if other premium discount programs offered by the BWC are right for your business. These programs, including the Premium Discount Program +, Transitional WorkGRANT$ and the Drug-Free Workplace Program, provide businesses with premium discounts in exchange for implementing comprehensive safety measures designed to prevent accidents. Contact our Frank Gates representative for advice on reducing your workers' compensation premiums, and assistance with program applications.
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