The COVID-19 pandemic is affecting all aspects of life. Workers' Compensation is no exception. In an effort to slow the spread of the disease, the following changes have been implemented by the Bureau of Workers' Compensation and Industrial Commission:
In the midst of the "alphabet soup" of regulations and regulators that could affect your business, Ohio has an ingredient all its own...the VSSR.
The Ohio Bureau of Workers' Compensation routinely conducts audits on state fund employers to confirm that payroll records submitted to the Bureau are accurate and that appropriate workers' compensation coverage is being provided for the types of employees in a particular business. Following the audit, the Bureau of Workers' Compensation could determine that there is a discrepancy between a company's estimated premium and the actual/appropriate premium based upon current employee records. Under such circumstances, the company may be obligated to pay up to two years in past due premiums.