Did your organization complete a Temporary Authorization to Review Information (AC-3) form earlier this spring as part of our workers’ compensation member benefit?
If so, your organization should now be in receipt of your savings analysis from our program administrator, CompManagement, as long as your company was found to be eligible to participate in a premium discount program for the upcoming 2018 policy year.
Although the actual premium paid by individual private employers for workers’ compensation coverage in Ohio depends on a number of factors, employers are always encouraged to learn more about programs that can assist in lowering their workers’ compensation costs. If you are reviewing savings quotes from other group administrators, please make sure that you are examining them thoroughly to ensure that you are comparing similar discounts and service offerings. This important decision affects how much you pay in workers’ compensation premiums, as well as who will be handling any claims incurred by your injured employees.
Please make sure to return your enrollment documents timely to ensure your participation. The deadline to enroll in a Group Rating program per the Ohio Bureau of Workers’ Compensation (BWC) for the upcoming 2018 policy year is Monday, November 20, 2017.
If your organization is not eligible for Group Rating for the 2018 policy year, there are other options and discounts available (Group Retrospective Rating, Individual Retrospective Rating, EM Cap, One Claim, Destination Excellence, etc.) that offer a variety of discounts and may be compatible with other programs for potentially larger savings. The enrollment deadline for these programs is January 31, 2018.
We encourage you to explore your best savings option with our CompManagement representative, Rejeana Woolum-Napier, to see how your organization can realize your maximum savings for 2018. Rejeana may be reached at (614) 359-2403 or via email at Rejeana.Woolum-Napier@sedgwick.com.
Don’t miss your opportunity to reduce your workers’ compensation premium for 2018 – act now!