Be Prepared for Changes Coming to Ohio Bureau of Workers' Compensation
Changes to Incentive/Premium Discount Program Enrollment Deadlines
In continuation of the "Billion Back" campaign from the summer of 2013, the Ohio Bureau of Workers' Compensation (BWC) has announced additional changes to come this year and in 2015.
A "Billion Back" was a one-time dividend released to eligible private and public taxing district equating to $1 billion in June 2013 and completed in October 2013. It was made possible because the financially strong Ohio State Insurance Fund exceeded the target funding ratio of assets to liabilities established by the BWC Board in 2008.
Included in the "Billion Back" campaign was a plan for the BWC to transition to a prospective billing system that will align it with standard industry practices. The transition is effective for the July 1, 2015 policy year for private employers.
Through our workers' compensation third party administrator, CompManagement, Inc., your organization can see how participation in a program will impact your costs as well as how these programs can be stacked together to achieve the maximum savings available for your organization.
Simply complete the Temporary Authorization to Review Information (AC-3) form on this document. See document for more information on enrollment deadlines and to view the Temporary Authorization to Review Information form.
< Back | Printer Friendly Page