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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.
Update on Non-Compete Ban for 2025
Posted By Brandy King
December 16, 2024
Category: Non Compete, Employment Law, Non Solicitation Agreement, Ohio
FTC’s Non-Compete Ban Blocked, But Gray Area Remains In early 2023, the Federal Trade Commission (FTC) introduced and finalized a rule banning the use of non-competes. Employers, Chambers of Commerce and trade organizations rallied against the new rule claiming it was anti-employer, some going as far as calling it “blatantly awful.” As expected, the change was met with litigation and in August of 2024, the ban was struck down by a federal judge in Texas who claimed the FTC overstepped its authority by issuing the rule. A non-compete (or non-competition agreement) is an agreement in which the employee agrees not to engage in conduct or activities that could increase competition for their employer. These types of arrangements are prevalent in finance, healthcare, design, tech and all types of sales or business development roles. They’re meant to protect things like trade secrets, privileged info and client retention. Non-competes aren’t the same as non-solicitation clauses. These agreements err more toward not calling on your former clients in your new role. Here’s an example of differentiating between the two. Non-Compete: “Upon leaving ABC Company, you may not engage in a similar role for another insurance company within a 50-mile radius.” Non-Solicitation: “Upon leaving ABC Company, you may not solicit (contact/call on) clients of ABC Company in your new role with another insurance company.” For now, bo
Benefits Recap: Reminders for 2024 & Changes for 2025
Posted By Brandy King
December 16, 2024
Category: Contribution Limits, Employee Benefits, Retirement Plans, HSA, FSA, ACA
ACA Updates & Reminders It’s almost time for ACA reporting! There aren’t any major changes this year, but here are some items to be aware of for the 2024 tax year. The employee distribution deadline for the 1095-C forms is March 3, 2025. Since the 2023 tax year, the IRS requires all employers with more than ten (10) forms to report electronically. Employers can complete this either directly through the IRS website or through a third-party provider. Corrected forms are also required to be submitted electronically. If you’re submitting 10 or fewer forms, you can still file on paper. The deadline for this is February 28, 2025. The deadline for e-filing 1095-C and 1094-C forms to the IRS is March 31, 2025. Keep in mind that there could be additional ACA state reporting requirements for your organization with differing deadlines. The states to pay special attention to are California, New Jersey, Massachusetts, Rhode Island, and the District of Columbia. Updated penalties and affordability percentages. The ACA penalizes Applicable Large Employers (ALEs) that don’t offer what’s considered affordable coverage to full-time employees (FTEs). The affordability percentage is the maximum amount of an employee’s pay that “Employee Only” coverage can cost the employee in order to be considered affordable by ACA. For 2024, that percentage is 8.39%. The affordability percentage will jump to 9.02% for 2025, and the associated fines will
Additional Drug-Free Program Savings for Spooner Clients
Posted By Brandy King
December 16, 2024
Category: Dfsp, Drug Testing, Drug Screens, Ohio Bwc, Sur Program, Substance Abuse Recovery
Ohio’s recreational marijuana sales have started! Spooner clients who haven't had a recent review of their drug-free policy can take advantage of a no-cost, no-obligation policy review by First Connect Corporate Services. Our clients who need an update or new policy development will have access to discounted pricing when they mention Spooner. To take advantage of this offer, email your drug free policy to lisawade@firstconnectplus.com and identify your company as a Spooner client. Don’t forget, there is a reimbursement available to Ohio employers current on their workers’ compensation premium that will cover the costs of policy development or update, employee or supervisor training or Train the Trainer programs. Some drug testing is even included. For most employers, the reimbursement means zero out of pocket when using First Connect as the provider. Since 2004, First Connect has been a leading provider of drug free program development and training services in the state of Ohio. For more information, please visit their website at www.firstconnectplus.com or call 855.990.5500 and speak to Lisa
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28605 Ranney Parkway
Westlake, Ohio 44145
Phone: 440-249-5260 ext. 153
Hours: 8AM to 5PM
