BWC Update on Prospective Billing

Todd L. Spence, MBA, ARM—BWC Regional Business Consultant
BWC update on prospective billing
Workers’ comp billing system update/Deadlines changing, additional savings expected.
BWC is changing the way it bills for workers’ compensation coverage to better serve Ohio employers.
*  For decades, the agency has billed for employer premiums after-the-fact. It will begin billing in advance of coverage starting July 1, 2015 for private employers and Jan. 1, 2016 for public employers. This change will align BWC with standard industry billing practices.
*  Due to the switch to prospective billing, a number of deadlines for plan and program sign-ups will change in coming months. Among them is the snapshot date for experience calculation: for private employers, that date is Sept. 30. For public employers enrolling for the 2016 policy year, it will be March 31, 2015.
*  The transition won’t cost Ohio employers any extra money. BWC will provide a one-time, $1.2 billion premium credit to eliminate the need for double payments during the transition.
 
This session is approved for 1 HRCI credit hour.

Register and pay online here: http://safety.lickingcountychamber.com/EventRegistration.aspx?EventId=492