Blog
2023 EMR and Rate Publication
Along with the potential base rate increase we discussed in another article, Ohio employers will soon be receiving additional details for the 2023 policy year. Sometime over the next 60 days, businesses will get a letter from BWC confirming EMR and Group Rating discounts effective 7/1/23. Most businesses assume whatever Group Rating discount they were offered when they signed up over the summer and fall of 2022 was locked in, but that’s not the case. Group Rating is never a guarantee - the number you’re given is always an estimate.
Your Experience Modification Rate (EMR) impacts rates, program eligibility, and for some companies – the success rate of RFPs. General contractors and large corporations (like GM, Honda, AK Steel, etc.) will often require subs or anyone working on their property to maintain an EMR of 1.0 or lower. While the EM Cap program will lower your published EMR to 0.99, those with industry experience often know that it’s not organic. If a high EMR is affecting your company’s success, there are more cost-effective options outside of EM Cap and other BWC programs. Please reach out to our team of experts if you have any questions or concerns when receiving these notifications from BWC.
Group Rating Renewals Arriving via DocuSign
Posted By Brandy King
August 26, 2024
Category: Group Rating, Renewal, Docusign
Earlier this summer (late June), Spooner sent Group Rating documents to many of our clients via DocuSign. If your policy had been enrolled in our Group Rating program for the current (2024-2025) policy year, your renewal documents would have been delivered this way. We understand that you may have been hesitant to open the email and/or click the link to complete the documents, or the email could have been intercepted as spam and you didn’t receive it at all. We’re working through contacting the Spooner clients who have not yet returned their Group Rating forms and can resend either via DocuSign or regular email. If you still have the email, you’re still able to complete the enrollment via DocuSign. It should appear similar to the picture below, showing Nathan Kenney as the sender. We apologize for any confusion this may have caused. Please reach out to your Client Services Manager with any additional questions on your 2025 program
2024 Safety Intervention Grant Applications Open
Posted By Brandy King
July 24, 2024
Category: safety grants, ohio bwc, safety intervention, finance, safety investment
Ohio employers may be able to check one more thing off their wish list this year, without paying full price. Ohio BWC has opened the application period the Safety Intervention Grant (SIG) Program, which matches eligible state-fund employers $3 to $1 on investments to create a safer workplace. Most employers who have had an Ohio BWC policy for at least one year, are paying above minimum premium ($120+), current on installments and true ups with no lapses this year should be able to take advantage. Self-insuring employers, employers in a self-insured PEO, state agencies and state universities are not eligible. Every three years, eligible employers can apply for up to $40,000 in matching funds to purchase “equipment to substantially reduce or eliminate injuries and illnesses associated with a particular task or operation.” The first thing to note is that if your organization wants to benefit from the Safety Intervention Grants, is that you must complete this process before purchasing equipment. We know this paperwork can be daunting, and we encourage Spooner clients to reach out to us for assistance with these grant applications. Be prepared with info on any workers’ comp claims or incidents associated with the particular area or task, the number of employees performing the task, and explore vendors to get price quotes on the equipment you have in mind. As always, there are items and services that grant funds can’t be used for - like standard PPE, train
2024 True Up
Posted By Brandy King
July 24, 2024
Category: ohio bwc, true up, compliance,
BWC’s True Up window began on July 1, 2024 and will run through August 15, 2024. This is a process required by Ohio BWC at the end of each policy year, where your premiums based on projected payroll for the previous policy year are balanced with premiums based on your actual payroll over the past year. Compliance with both the reporting and payment of any balances affects your company’s eligibility for most savings programs (like Group and Group Retro). If your actual payroll was higher than projected, you’ll be expected to pay that balance to Ohio BWC no later than August 15th. If you are unable to pay the lump sum at that time, please note that any future premium installments will first be applied to your delinquent True Up Balance before being applied to your premium installments. Payment plans for True Up balances are only available through the Ohio Attorney General’s office following an application process. If this year’s True Up caught you by surprise, next year consider running a mock report in May or June to help your company prepare for any balance that may be owed. The payroll classifications and totals reported this summer will be used to determine your 2025 policy year premiums. For the 2024 policy year that just began, BWC will be using payroll projections based on your True Up from July 2023. Adjustments to your estimated payroll can also be made throughout the year by contacting BWC at 1-800-644-6292. Spooner clients
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Westlake, Ohio 44145
Phone: 440-249-5260 ext. 153
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