There will be two things different about the Bureau of Workers' Compensation (BWC) payroll report you receive for the July 1 to Dec. 31, 2003 reporting period. First the 20% dividend will be on the sheet for you to calculate and only pay 80%.
Second, BWC will not be offering the 50/50 split payment option as they did with the most recent reporting period. As mentioned when providing this payment option, it was being offered based on-then economic conditions and most importantly, that there was no dividend being offered for the Jan. 1 to June 30, 2003 period, so you would be paying 100% of your full rate.
You will be required to pay your full amount due and cannot break the payments into 50% portions. If you do not pay your premium you will be lapsed and invoiced for the remaining amount. Yet, due to the success of 50/50, BWC says they will still review, each reporting the period, the benefit to you of providing 50/50 as a payment option.
Payroll report and premium payment is due at BWC's office by February 27, 2004. Please contact BWC Employer Services at 614.752.6332 with questions.