Prospective billing starts in July 2015 for private employers, and BWC is reminding employers about the importance of staying current on workers’ compensation premiums.
Paying your premiums in a timely manner will keep your workers’ compensation coverage in effect, and it can save you from having to pay costly non-compliance fees as well as preserve your eligibility to participate in money-saving rating and discount programs.
In May, you’ll receive your notice of estimated annual premium, which will be based on your reported payroll for July 1, 2013 to June 30, 2014. It is not a bill. Please review it for accuracy and contact BWC if you feel something is wrong with the estimate.
The first invoice you will receive will come in August (as part of the transition credit, BWC will make your June invoice payment on your behalf). You’ll also need to report payroll for the January to June 2015 period, but BWC will pay that premium with the transition credit as well. Transition credits will not be granted to employers with lapsed coverage or employers who have not reported their January to June 2015 payroll.
BWC’s switch to prospective billing also means new deadlines for rating plans and programs. The deadline for programs of Destination: Excellence is now the last business day of May.
A private employer timeline and other resources about prospective billing are available at bwc.ohio.gov. BWC is also offering free seminars around Ohio to answer questions and provide details about prospective billing to private employers. To register, click here.
Questions? Please contact your local BWC customer service office, call 1-800-644-6292, or email the Ohio BWC.
Remember, public employers won’t switch to prospective billing until January 2016. A link to the timeline for public employers is available here.
