Blog

Prospective Billing True-Up Report for Private Employers in the State Fund

There are a few important updates Spooner Inc. wanted everyone to be aware of as we move into the 2016 premium policy year and get ready for the first True-Up reporting.

MAY 1st
The Ohio Bureau of Workers' Compensation (BWC) will mail out your estimated premium for the 2016 policy year on May 1st. They have updated their website to reflect these numbers and you are now able to review the information. Please keep a copy of this letter with due dates. There were many issues with the installment schedules last policy year as the BWC sent invoices that did not reflect the actual due dates.

MAY 16th
If you would like to change the frequency of your premium installments, please contact the BWC no later than May 16th. Under the employer tab on the website of the BWC, there is a listing for Premium Installment Schedule. There, and you can change your schedule of installments. You can change the frequency to annual, semiannual, quarterly, bimonthly, or monthly. The first installment for the 2016 policy year will be due July 1, 2016.

While you are looking at the frequency of installments, please remember the payroll used in this calculation is from the 2014 policy year (July 1, 2014 to June 30, 2015). We do recommend running a parallel accrual system to be ready for any surprises that could happen with the August 2017 True-up report.

JUNE 1st
The BWC will mail an invoice for the 2016 policy year (July 1, 2016 to June 30, 2016). The invoice will reflect the frequency of installments selected by May 16th.

JUNE 30th
The invoice mailed June 1st is due.

AUGUST 15th
The first prospective billing True-Up report is due by August 15, 2016. The BWC is requiring all private employers to report payroll for the period of July 1, 2015 to June 30, 2016 by this date. If the payroll has increased since the 2013 policy year (July 1, 2013 to June 30, 2014), you will have an installment due. We have just received notice that the BWC will allow employers to mail in this payment. When you complete the report on the BWC website, you will have the ability to print a voucher to mail in with a check. If you experienced a decrease in payroll from the 2013 policy year, you will receive a premium credit toward future installment payments.

If you have any questions related to prospective billing and the True-Up report, please contact your client service representative.

Loading Form...

Posted By Admin in General

Most Recent

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

Blog

Prospective Billing True-Up Report for Private Employers in the State Fund

Update on Non-Compete Ban for 2025

Benefits Recap: Reminders for 2024 & Changes for 2025

Additional Drug-Free Program Savings for Spooner Clients

Navigation

Contact

A Family of Companies