The state offers incentives for employers who pay their premiums at the start of the year
By Deborah Rutledge
Now fully past its final transition to prospective billing, The Ohio Bureau of Workers’ Compensation is in its second round of renewals doing business as a traditional insurance company.
Instead of paying premiums after coverage was extended to them, public and private employers that are not self-insured have made the transition to paying ahead into the State Insurance Fund.
The process makes for a more predictable payment plan for employers, and mirrors the insurance industry standard, says Melissa Vince, public relations manager for the Ohio BWC.
The plan also has it financial incentives.
Employers who can pay their entire premium upfront at the start of the policy year receive a 2 percent discount off their premium, says Bob Braun, regional business development manager for the southwest region.
That might become easier for some employers with the BWC board’s recent vote to reduce private employer rates by 12 percent beginning July 1. Public employer rates were already reduced 6.1 percent beginning Jan. 1, Vince says.
Premiums are calculated through the help of the True-up process, which requires employers to report their actual payroll for the previous policy year and reconcile any differences in premium paid.
Even if there is no reconciliation to be made, meaning their payroll for the year matches what the BWC estimated, employers must submit True-up reports online at bwc.ohio.gov or by phone at 1-800-644-6292.
Doing business online is encouraged for employers to manage their policy, pay bills and complete their payroll True-up. Online, employers will find a future payment option that lets them select their payment dates in advance and avoid paper invoicing.
Public and private employers should note these key dates for 2018-19:
For Private Employers
2018
May 1
– Policy Year (YP) 2018 notice of estimated annual premium sent
May 15
– Last date employer can change installment plan for PY 2018
May 31
– Drug-Free Safety Program (DFSP) application deadline for 7/1 start date
– Industry Specific Safety Program (ISSP ) application deadline for 7/1 start date
– Transitional work bonus application deadline for 7/1 start date
June 1
– Last day for retro settlements (close out year for 10-year annual evaluation)
June 30
– Deadline for safety council participation requirements
– Deadline for ISSP loss-prevention activities
– ISSP on-site consultation survey, SH-29, deadline
July 1
– Policy year starts
– Publishing of new rates
– DFSP program year starts
– Deductible program year starts
– Individual retro rating policy year starts
– Group experience rating program year starts
– Group retro program year starts
– One Claim Program (OCP) program year starts
– ISSP program year starts
– .99 EM Construction Cap program year start date
– Transitional work bonus program start date
– EM Cap program year start date
– PY 2017 payroll true-up notice sent (approx. date)
July 2
– PY 2018 first installment due
– Early Payment Discount due date, employer must pay the full PY 2018 estimated annual premium
July 16
– Last date to submit C-240 (settlement application)
July 31
– .99 EM construction cap deadline to opt out or submission of the safety management self-assessment (SH-26)
– Safety Council enrollment deadline
– DFSP accident analysis training deadline for 7/1 program start date initial year only. New supervisors have 60 days from hire date to complete
– DFSP online safety management self-assessment (SH-26) deadline for 7/1 start date
– ISSP online safety management self-assessment (SH-26) deadline for 7/1 start date
Aug. 15
– PY 2017 payroll true-report due
Aug. 30
– DFSP action plan (DFSP-5) deadline (advanced level only) for 7/1 program start date
Aug. 31
– Self-Insured assessment payment due – second half
Sept. 15
– Individual retro annual statements mailed from previous policy year (approx. date)
Sept. 30
Snapshot date for experience calculation
Nov. 19
– Group experience rating application deadline
2019
Jan. 31
– Deductible program application deadline date for 7/1 start date
– Individual retro rating application deadline for 7/1 start date
– OCP program application deadline for 7/1 start date
– Group Retro application deadline for 7/1 start date
Feb. 28
– Self-Insured assessment payment due – first half
– Self-Insured SI-40 due
For Public Employers
2018
May 1
– Deferred premium payment due (January-May)
May 31
– PEC Group experience rating program application deadline
June 30
– Deadline for safety council participation requirements
July 31
– Group retrospective rating application deadline for 1/1 start date
– Deductible application deadline for 1/1 start date
– Retro rating application deadline for 1/1 start date
– OCP application deadline for 1/1 start date
– Safety Council enrollment deadline
Aug. 31
– Self-Insured assessment payment due – second half
Sept. 28
– DFSP annual report due for 1/1 program start date
– Deadline for OCP education requirement
– EM cap requirement deadline
– Last date to request change in installment plan for PY 2018
– Last date to request change in estimated annual payroll exposure PY 2018
Oct. 31
– Notice of estimated annual premium mailed for PY 2019
Nov. 15
– Deadline for deferred payment option for PY 2018
– Last date employer can change installment plan for PY 2018
Nov. 30
– DFSP application deadline for 1/1 start date
– ISSP application deadline for 1/1 start date
– Transitional work bonus application deadline for 1/1 start date
Dec. 1
– Last day for retro settlements (close-out year for 10-year annual evaluation)
Dec. 31
– First prospective installment due for PY 2019 (employer may opt to defer)
– Early Payment Discount due date, employer must pay the full PY 2019 estimated annual premium
– Deadline for ISSP loss prevention activities
– ISSP on-site consultation survey, SH-29, deadline
2019
Jan. 1
– Policy year starts
– DFSP program year starts
– Individual retro rating plan program starts
– Deductible program year starts
– Group retro program year starts
– Group experience rating program year starts
– EM Cap program year starts
– OCP program year starts
– ISSP program year starts
– Payroll true-up notice sent for PY 2018 (approx. date)
Jan. 31
– DFSP accident analysis training deadline for 1/1 program start date. New supervisors have 60 days from hire date to complete
– DFSP online safety management self-assessment (SH-26) deadline for 1/1 start date
– ISSP online safety management self-assessment (SH-26) deadline for 1/1 start date
Feb. 1
– PERRP 300AP submission deadline for previous calendar year statistics
Feb. 15
– Last date to submit C-240 (settlement application)
– PY 2018 payroll true-up report due
Feb. 28
– Self-Insured assessment payment due – first half
– Self-Insured SI-40 due