Ohio BWC Prospective Billing Switch Begins July 1

rlewis on June 11, 2015

July 1, 2015 marks the beginning of the new policy year for the Ohio Bureau of Workers’ Compensation (BWC) prospective billing schedule for private employer premiums. Employers should receive letters over the next few weeks outlining their estimated premium installment schedules for the first policy year from July 1, 2015 to June 30, 2016. 

Ohio BWC made this change from retrospective to prospective billing to align the agency with industry standards, and anticipates program benefits will include more flexible payment options and better budget anticipation for employers.

Important Dates for Ohio BWC Prospective Billing:

  • July 1, 2015: Policy Period and Prospective Billing Begins
    • Ohio BWC is paying first installment as a continuation of the transition credit employers received for the first half of the year
  • Aug. 31, 2015: First payment due from Ohio employers
  • Nov. 2, 2015: Payment due from Ohio employers
  • Dec. 31, 2015: Payment due from Ohio employers
  • Mar. 2, 2016: Payment due from Ohio employers
  • May 2, 2016: Payment Due from Ohio employers
  • Aug. 15, 2016: Employers must file a report to reconcile payroll estimates previously paid vs. actual payroll amount for previous policy year (AKA “Payroll True-Up”)
    • If “True-Up” is not reported on time, the employer could lose coverage immediately and may be subject to other penalties/fines

(The switch will take effect on Jan. 1, 2016 for public employer taxing districts.)

Free seminars and webinars from Ohio BWC are available for employers to learn more about how prospective billing will impact your business.  Click here to see scheduled webinars.

Ohio BWC also launched the “Destination: Excellence” risk-management program, that features incentives and savings programs, to coincide with the switch to prospective billing. To learn more about the programs available and understand the benefits of the program, check out this Ohio BWC brochure.

If you have questions about Ohio BWC’s switch to prospective billing, please contact your Whalen representative.

More information: Ohio BWC Prospective Billing Resources and FAQs