In May, we informed you the Ohio Bureau of Workers’ Compensation (BWC) would be issuing $1.5B in rebates to employers; and true to their word, many local employers have started receiving rebate checks in the mail.
The BWC is issuing rebates equal to 88% of the employer’s 2018 premiums (for the period running July 1, 2017 to June 30, 2018.)
Topics: Bureau of Worker's Compensation, Ohio business owners, Insurance, SMB
The Bureau of Workers’ Compensation (BWC) has announced a proposal to provide Ohio employers with a $1.5B rebate. This rebate comes as the result of stronger than expected returns on investments.
Topics: Bureau of Worker's Compensation, Ohio business owners, Taxes - Corporate & Business
The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has announced they have approved a 20% cut in premiums for private employers. The cut was proposed by BWC’s Director and CEO.
Topics: Bureau of Worker's Compensation, Ohio business owners
The Ohio Bureau of Workers' Compensation (BWC) has proposed a 20% reduction in the average premium rate charged to private employers.
Topics: Bureau of Worker's Compensation, Ohio business owners, Insurance
The deadline is approaching for private employers to “true-up” with the Ohio Bureau of Workers’ Compensation (BWC).
A press release posted on the Ohio BWC website reminds employers they have until Aug. 15 to complete an important action necessary for the BWC to accurately calculate premiums.
According to the press release, prior to each policy year (July 1- June 30), employers' payroll amount, the basis for their premium, is estimated based on historical data. When the policy year-ends, employers are required to true-up, which means they must report the actual payroll for the policy year that ended on June 30 and reconcile any difference in premium paid.
Topics: Bureau of Worker's Compensation, payroll, Ohio business owners, Brett W. Neate, Business - Management, Issues & Concerns
The midway mark in the calendar year signifies a checkpoint for the Bureau of Workers Compensation (BWC). The BWC Annual True-up reports are due soon and while many companies are ready, some may still be a little fuzzy about the new process and timeline.
This is the second year for annual True-up reporting. Most private employers are on a bi-monthly payment installment schedule (other than the minimum payers). If employers wish to elect a monthly installment option, they can make the change annually prior to the start of the new policy year,
Topics: Bureau of Worker's Compensation, Business - Management, Issues & Concerns
From the Ohio Bureau of Workers' Compensation news desk
June 15, 2017
Ohio’s economy will get a big boost in July. That’s when the BWC will send $1 billion in rebates to eligible Ohio employers, the first part of The Third Billion Back plan that was announced in March.
Topics: Bureau of Worker's Compensation, Taxes - Corporate & Business, Business - Management, Issues & Concerns
Posted by: Gary M. Sigman, CPA, MTax, PFS
Topics: Bureau of Worker's Compensation, payroll, Taxes - Corporate & Business, Taxes - Planning, Rules and Returns
