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Category: ACES

BWC to Host Open Forum on ACES

Posted By Brandy King
October 07, 2021 Category: ACES, Ohio BWC, Workers Compensation, Ohio BWC, Ohio Workers Compensation, Underwriting, ACES, MIRA II, EMR, Insurance Premiums

On October 14, BWC will host an open forum with TPAs to discuss the impact of their new reserve system called ACES.  Spooner’s goal is to convince BWC that this system is overestimating reserves for lost time claims (as well as some medical only claims) that will have a dramatic effect on Group Retro refunds for the 2020 policy year and future years. This could also have a negative impact on employers’ EMRs for the 2023 policy year. BWC implemented this new system of calculating reserves in January 2021. As early as June, we began noticing reserves jumping to nearly 4-5 times what they would have been under the previous system and industry standard, MIRA II. We shared another update in August, after reviewing the first round of results for 2020 Group Retro and finding that 68% of pools could face a first year assessment, as opposed to getting a refund from the program.  These open forums held by BWC are a platform for TPAs to voice concerns over certain policy and procedure changes that may negatively impact Ohio businesses. Spooner is an Ohio business, and our family of companies make it a priority to fight for policy changes that will have a positive impact on the business community that we’re so proud to be a part

Group Retro Updates: 2018, 2019 & 2020

Posted By Brandy King
August 02, 2021 Category: Ohio Bwc, Group Retro, Group Retrospective Rating, ACES, MIRA, Reserves, Group Retro Assessment

We promised to keep you informed on the status of 2018 and 2019 policy year refunds from BWC’s Group Retro program.  As it stands, no employers enrolled during those years will be receiving any refunds. Typically, in the fall of 2021 Group Retro participants should be receiving your first refund from the 2019 policy year and your second refund from the 2018 year. It’s important to understand that if these refunds are normally included in your budgeting process for the coming year, you should not factor that in. For more info on why BWC chose not to release these funds, and what Spooner is doing to help Ohio employers, check out our June blog entry on these missing Group Retro Refunds. If your company was enrolled in Group Retro for the 2020 year, your first refund will be paid out in the fall of 2022.  Since the 2020 policy year recently ended, we also have an updated outlook on those returns. Out of the 45 total Private Employer Group Retro pools in Ohio, data from BWC shows that 31 of them will have an assessment for their first year (due in fall 2022). This means that companies in that pool will be billed by BWC for a portion of 2020 premiums instead of receiving a refund. This is largely due to BWC moving to a system called ACES to determine reserves on claims as of July 1, 2020. We believe BWC is open to discussing changes to some of the variables used to calculate refunds in response to the impact ACES is having on 2020 Group Retro

Where is BWC's Group Retro Program Headed?

Posted By Brandy King
June 11, 2021 Category: OHio BWC, Workers Comp, Group Retro, ACES, Claim Reserves, Group Retro Assessments

  In our last few blogs and newsletters, we’ve been updating you on the changes we’re noticing in Ohio BWC’s Group Retro program.  Initially, there was the withholding of 2018 and 2019 refunds (six total payouts for participating employers). Then, we began noticing the overall degradation of retro refunds.  Most recently, we’ve noticed how BWC’s changes to their claim reserve calculations are having a tremendous impact on the performance of Group Retro pools.  For those of you who didn’t read our post about reserve calculations, here’s an abridged version: workers’ comp claims have a dollar amount reserved at the onset of a claim (yes, even if you do salary continuation) for additional funds that the insurer thinks it may end up costing.  BWC’s method of calculating reserves changed in January 2021 and Spooner’s tracking of these trends show reserves increasing as much as 1900% on some claims. Why does it matter? That pretend money is treated like real money when your experience is calculated for the next year, determining your premiums. That $5000 ankle sprain is now a $29,000 ankle sprain, and the insurer (BWC) will recoup their losses from you accordingly.  We’ve been tracking the impact these reserves have on Group Retro, and it shows a vast majority of the pools underperforming.  Some competitors even show the possibility of an assessment, meaning that policyholder

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