Watch your mailbox: BWC mailing employer rebates in July
BWC is asking employers to keep a close watch on your mailbox in July. That’s because BWC is sending checks as part of the $1.5 billion rebate they announced in the spring.
The rebate, BWC's fourth since 2013 and the agency's largest in 20 years, is possible due to healthy investment income, falling claims and prudent fiscal management. The rebate brings workers’ comp savings for all Ohio employers to $8 billion since 2011.
Your check should arrive by early August in a white envelope labeled “important documents enclosed.” Get them cashed quickly because they expire in 90 days.
While the money is yours to spend as you wish, BWC encourages employers to invest in workplace safety measures that prevent injuries and reduce workers’ comp costs.
Employers that participate in the Group-Retrospective Rating Program will receive checks in the Fall.
BWC True-up deadline August 15
Ohio private employers have until August 15 to complete an important action that is necessary for the Ohio Bureau of Workers’ Compensation (BWC) to accurately calculate premiums.
Prior to each policy year (July 1- June 30), employers estimate their projected payroll, allowing BWC to set their premium. At the end of that policy year, employers are required to “true-up,” meaning they report actual payroll for the policy year that ended June 30 and reconcile any difference in premium paid.
“At the end of each policy year, BWC must confirm the premium we set is correct so we ask employers to complete a true-up report,” said BWC Chief Financial Officer Barbara Ingram. “It’s a simple online process but extremely important to accurately calculate premium and for employers to maintain participation in current money-saving rating plan and discount programs.”
Ingram reminded employers the true-up report must be completed even if an employer had zero payroll, or their payroll for the year matches the estimate BWC provided.
BWC will remove employers from their current rating and discount programs if it does not receive a payroll true-up and any additional premium owed by the deadline.
The quickest and easiest way to true-up is online with a BWC e-account. Online true-up and payment also qualifies eligible employers for a 1-percent premium rebate, up to a $2,000 maximum.
Instructions are also available at
Public employer taxing districts complete true-up every February.