Guest Blog: July is a Busy Month for Your Ohio Bureau of Workers' Compensation Account

When I think of summer, images of backyard cookouts, camping, and relaxing around a fire pit come to mind. However, July is a busy month for your Ohio BWC policy due to the intersection of policy years and actions that accompany each one.
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What follows is a checklist of items that impact your Ohio BWC account and can rattle your peace of mind (if you are in the state fund, not self-funded). 

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Policy Year 2023

Policy Year 2023 just ended on June 30, 2024, and it is now time to make sure you paid the appropriate premiums to BWC by performing a true-up.

True-Up Process

• Log onto your Ohio BWC account here and click View My Policy, then Payroll true-up reports.
• If your true-up has been completed, the website will display a banner indicating so.
• If not, pick the year in the drop-down box and enter your actual payroll broken down by manual classification for 7/1/2023 - 6/30/2024.
• Your premium will be recalculated. If you overpaid, a credit will be issued by BWC. If you owe additional premium, you will need to pay at this time.
• Your true-up must be completed and paid by 8/15/2024.

Policy Year 2024

Policy Year 2024 began on 7/1/2024. Assuming you paid your premium installment prior to 6/30/2024, your policy should be in "active" or "reinstated" status. If you have not yet paid your first Policy Year 2024 installment, your policy is lapsed, and you should make a payment online right away to reinstate your coverage.

• Verify Coverage Status: You can verify your coverage status on your My Policy page on the BWC website here.

Policy Year 2025

If you are currently participating in the TRCC’s Group Rating Program, your V+A Group Experience Rating Program and Group Retrospective Rating Program offers will be sent via email by the end of July. Check your packet closely as there may be an additional form needed to be signed this year (applies mainly to manufacturing and commercial employers).

• Group Experience Rating Roster Filing Deadline: Our Group Experience Rating roster filing deadline with BWC is November 25, 2024, so we appreciate you confirming your program choice by September 30 or as soon as you are able.
• Not Currently Participating?: Not currently taking advantage of this TRCC member benefit program? Simply fill out this form for a no-cost, no-obligation quote to find out how much you could save.

Take care of your Ohio BWC account and then enjoy some summer fun!

About the Author

Ken Finley is an Ohio workers’ comp and unemployment resource for Toledo Regional Chamber of Commerce members. This year he celebrates 28 years working for V+A Risk Services and their 2,500 clients. Ken enjoys speaking to groups about workers’ comp programs and provides clients with premium forecasting and policy solutions. He is a long-time member of the Toledo Regional Chamber of Commerce Workplace Regulations Committee and a proud graduate of the University of Cincinnati (Go, Bearcats!). Ken enjoys reading, running, and following his Cincy sports teams and lives with his wife, Jenny, in the family farmhouse in Pemberville.