Perspective Billing update on Private Businesses
Feb 18, 2015 12:00 AM
2015-02-18T00:00:00
News from the Ohio Bureau of Workers’ Compensation
Prospective billing: Why it’s important to remain
current on your workers’ comp premiums
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 BWC.
Remember, public employers won’t switch to prospective billing until January 2016. A link
to the timeline for public employers is available here.
30 W. Spring St. Columbus, Ohio 43215-2256 | 1-800-644-6292 | www.bwc.ohio.gov |
Prospective billing: Why it’s important to remain
current on your workers’ comp premiums
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 BWC.
Remember, public employers won’t switch to prospective billing until January 2016. A link
to the timeline for public employers is available here.
30 W. Spring St. Columbus, Ohio 43215-2256 | 1-800-644-6292 | www.bwc.ohio.gov |