Good News For State-Fund Employers – Prospective Billing Is On The Way!

In Business Law, Employment Law, General by Coolidge Wall

You have likely received word from the Ohio Bureau of Workers’ Compensation of a major change coming in the manner in which it establishes workers’ compensation premiums. In July of 2015, the retrospective billing system for state-fund employers will be a thing of the past, as the Bureau moves to a prospective system.

Most importantly, though, be advised that as a result of that transition, and to avoid a situation where employers are paying premiums twice during the overlap, the Bureau of Workers’ Compensation is actually granting an eight month premium credit for all private state-fund employers in July of 2015.

As a result of this change, other changes will follow, including deadlines for signing up for group rating, retro-rating, and group retro-rating. The signup date for Destination: Excellence programs will be at the end of May.

Expect the Bureau to be in touch with you on several more occasions about this change, but feel free to contact David C. Korte at Coolidge Wall  if you have questions.

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