Sheakley Updates

1 very important task Ohio public employers need to do before Nov. 21st

Amanda Hagerty
Reading time 1 Mins
Published on Oct 17

The Ohio Bureau of Workers’ Compensation (BWC) transition to prospective billing is nearly complete. By default, you will automatically be placed on a monthly billing schedule with your first invoice mailed on Dec. 1, 2016 (due by Dec. 31st) for coverage beginning Jan. 1, 2017. However, between Oct. 17 and Nov. 21, you have the opportunity to choose your payment schedule.

Your payment options are bi-monthly, quarterly, bi-annually, annually, or a Deferred Payment Program. New with prospective billing, the BWC is offering the Deferred Payment Program in which your first payment will be deferred to April 30, 2017. You will be required to pay premium covering January through May by April 30th, and then your remaining payments will be set to a monthly schedule. BWC will charge a deferment fee based on the discount rate assumed.

Important notes:

  • If you choose to pay your full premium by Jan. 3, 2017 you will get a 2% premium refund.
  • The option to choose your payment plan does not apply for those who only pay the minimum ($120).
  • The BWC website will be down for maintenance Nov. 10-14.

If you have any questions, or need assistance choosing your payment schedule, call Sheakley at 800.877.2053 ext. 2090.

You may want to read

See all articles