Upcoming dates to remember
True-up coming in July
Ohio private employers have adjusted well to the new way BWC charges for workers’ compensation coverage. Last year’s change to prospective billing brought a much-needed move to the standard insurance industry practice of charging premiums in advance of extending coverage.
Employers are now enjoying a number of benefits of the new billing system, including more flexible payment options, better customer service and a $1 billion premium credit provided by BWC to avoid double-billing employers during the switch.
However, the transition process is not fully complete. The payroll true-up (true-up) is coming in July.
True-up is a new process that requires employers to report their actual payroll for the previous policy year and reconcile any differences in premium paid. This is an important step that is necessary for BWC to accurately calculate your premium. It’s also critically important to maintaining your policy and your participation in your current rating plan or discount programs.* You must complete the true-up report even if your payroll for the year matches the estimate you receive from BWC.
Your policy year 2015 payroll true-up notice will be sent July 1 and your report will be due by August 15. Reports must be submitted online at bwc.ohio.gov or by phone at 1-800-644-6292.
Please keep in mind our call center may be experiencing heavy call volumes during the final weeks before the August 15 due date, attributing to longer wait times. We encourage you to create an e-account that allows you to manage your policy, pay bills and complete the payroll true-up. Learn how to create an e-account here, and visit bwc.ohio.gov to get started.
Please contact our call center if you already have an e-account but don’t remember your password or are otherwise unable to access your account.
A number of videos, webinars and other resources about prospective billing are available at bwc.ohio.gov.
*BWC will remove employers from their current rating plan or discount program if it does not receive a payroll true-up by the due date. Any outstanding payroll true-ups will render the employer ineligible for participation in future rating plans or discount programs until the all outstanding payroll true-ups are complete.
30 W. Spring St. Columbus, Ohio 43215-2256 | 1-800-644-6292 | www.bwc.ohio.gov |