Your company’s BWC advocate
Navigating the complicated world of workers’ compensation in Ohio is a little less stressful when you choose a Third-Party Administrator (TPA) to help advocate for you and your business. While the Bureau of Workers’ Compensation looks out for the interests of injured workers, your TPA will help you save money and provide assistance with claims.
Ohio BWC and Third-Party Administrators
Third-party administrators (TPAs) are advocates for employers. The BWC acts as the representative for injured workers and, although also an insurance company, they do not represent the employer. TPAs don’t fall under the jurisdiction of the BWC, therefore their services are paid for out-of-pocket by the employer. While the Ohio BWC does not require employers to work with a TPA, it is highly recommended for a number of reasons.
The Ohio BWC offers many discount programs to employers and a TPA can offer assistance in selecting the best program for the employer’s needs. Additionally, a TPA can provide future financial projections to help employers prepare for changes in Workers’ Compensation Insurance premiums.
Core TPA Responsibilities
While the BWC requires employers to enroll with a managed care organization (MCO) for the medical management of on-the-job injuries, it’s the TPA that brings cost savings to your business.
In addition to selecting cost-saving programs and ratings for your business, a TPA will also:
- Provide risk management consulting to employers;
- Administering group rating and other savings and discount programs to lower an employer’s Ohio BWC premium;
- Pertinent claims investigation;
- Claims administration;
- Industrial Commission hearing attendance;
- Providing workplace safety programs, and;
- Assisting employers in the development of workers’ compensation cost control strategies.
Since the staff of a TPA typically consists of claim and account representatives and other workers’ compensation professionals, you can be confident that your account manager will be knowledgeable in helping you protect your company’s interests in the realm of workers’ compensation.
Should You Use a TPA?
A TPA is the only way to become part of a Group Rating Program, a valuable group discount that can significantly reduce your company’s workers’ compensation premiums. Your TPA will also look for any other cost saving measures for which you might be eligible, including recommending safety programs that your company should adopt to reduce the number of workers’ compensation claims made each year.
Experts in Ohio workers’ compensation, your TPA will also have valuable knowledge about reimbursement opportunities, can help your team prep for workers’ compensation hearings, identify potentially fraudulent claims, and bring a wealth of experience to the table that can save you time and money.
Helping You Manage the Claims Process
While the Ohio BWC may not require your company to use a TPA, the cost-savings and expertise of these groups can lead to reduced risk and lower costs for your company. Partnering with a TPA is an investment in your business’ future that can mean a safer workplace for your employees and less spent on premiums for you.
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