Be Prepared for the BWC Implementation of Prospective Billing
Private Employers Begin July 1st
The Ohio Bureau of Workers’ Compensation (BWC) is transitioning to a prospective billing system that goes into effect July 1, 2015 for private employers.
Private employers should be in receipt of their Estimate of Premium Notice from BWC which is for the first prospective billing period which covers July 1, 2015 – June 30, 2016.
To prevent employers from being “double-billed”, BWC will help to limit the financial impact to employers during the transition by applying both a payroll transition credit and a prospective transition credit.
The payroll transition credit will be for the last reporting period of the retrospective billing era (January 1, 2015 through June 30, 2015). Employers will receive a 100% credit towards this premium payment due in August.
The prospective transition credit will assist in your transition to the prospective billing era. The credit equates to 1/6th of the billed premium for the July 1, 2015 – June 30, 2016 period.
To receive the credit, however, your policy must be current which means that you have done the following:
- Paid all outstanding premium, late fees and penalties for past due premium (or request a payment plan from BWC for any amount that cannot be paid) prior to July 1, 2015
- Filed your January 1, 2015 – June 30, 2015 payroll report prior to August 31, 2015
For resources related to the implementation of prospective billing, please also visit the website of our workers’ compensation partner, CompManagement, at www.compmgt.com and click on the Are You Ready button under Quick Links on the home page. You will find informational podcasts to watch as well as documents outlining key dates and frequently asked questions to assist you.
If you have additional questions or concerns regarding the implementation of prospective billing, please feel free to contact CompManagement’s Customer Support Unit at (800) 825-6755, option 3.