You are here: HomeWorkers' Compensation Blog2015 Ohio Bureau of Workers’ Compensation Billing Changes

We at Service 1st Payroll are currently looking into how the changes in the Ohio Bureau of Workers’ Compensation (BWC) will effect reporting.  As part of the “Billion Back” campaign, BWC has announced the following changes beginning in the fall of 2014. 

BWC will be transitioning to a billing system that will provide a modernized perspective billing system that is more flexible for employers while reducing overall system costs, and will align BWC with standard industry practice of allowing the collection of premiums before extending coverage.

Transition is effective:

July 1, 2015 for Private employers

January 1, 2016 for Public employers

Changes to Expect as Transition Takes Place:

·              Earlier deadline to sign up for incentive program.

·              One-time credit - in July 2015 will be equal to 8 months of premiums.  BWC will cover 6 months or retrospec­tive premiums for January to June 2015 as well as the premiums for July and August 2015.

·              New payment schedule - employers may choose as many as 12 installments.

·              True-up process - in August 2016 the employer will report actual payroll and the amount owed will be com­pared to the estimated prepaid amount.  Employers will receive a refund if overpaid or an assessment of what they owe.

Benefits of Prospective Payment:

·         More flexible payment options (monthly, quarterly, yearly) and possible discounts for those who pay in advance.

·         Better ability to anticipate budgetary impacts to Workers’ Compensation coverage.

·         More options for BWC to provide quotes online or via phone.

·         Less costly for employers who either don’t pay premiums on time or have workers injured without coverage that are mutualized among employers in good standing.

·         Increases BWC’s ability to detect employer non-compliance and fraud

 

 

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