BWC Mailing Third Billion Back Rebate Checks This Month
BWC Administrator/CEO Sarah Morrison is hitting the road this month to remind employers their “Third Billion Back” rebate checks are on the way.
First stop: Northwest Ohio. Morrison made stops at the Toledo Regional Chamber of Commerce and Lima/Allen County Chamber of Commerce on July 6.
She will make more stops around the state throughout July to remind employers to be on the lookout for their checks. The checks will arrive in a white envelope labeled IMPORTANT DOCUMENTS ENCLOSED and must be deposited before they expire in 90 days.
She also said employers are free to spend their rebates as they wish, but she hopes they will consider investing in workplace safety.
“We work with employers all over Ohio to prevent injuries and illness in the workplace, and they will tell you that investing in safety is a wise business decision,” said Morrison. “Safe workplaces mean fewer injuries, fewer medical claims and a stable workforce, all of which leads to a healthy bottom line for a business.”
This is the third $1 billion rebate in the last four years, made possible by an improving safety climate, prudent fiscal management and strong investment returns. Eligible employers will receive checks that total 66 percent of their premiums for the policy year that ended June 30, 2016 (calendar year 2015 for public employers). Read more about the rebate here and catch up on the second part of the plan – a $44 million investment in new health and safety initiatives – here.
Get the latest on the rebate in this YouTube video.
Private Employers: True-Up by Aug. 15
The annual true-up process is now underway for Ohio private employers. Payroll true-up is an important step necessary for BWC to calculate your workers’ compensation premiums and for you to maintain your policy and participation in rating and discount programs.
True-up means you report your actual payroll for the prior policy year that ended June 30 and reconcile any differences in premium paid. The process is simple. Review true-up instructions at bwc.ohio.gov and on the BWC YouTube channel.
Remember, you must complete the payroll true-up report even if your payroll for the year matches the estimate we provided or if you had zero payroll.
BWC will remove employers from their current rating plan or discount program if payroll true-up is not received by Aug. 15. You will also be ineligible for participation in future rating plans or discount programs until all outstanding payroll true-ups are complete.
Future Dating Now Available Online
We are pleased to announce Ohio employers now have the option to schedule payments for premium installments. Future dating allows you to plan your payments in advance and select dates that work best for you.
Keep these important notes in mind before you begin future dating your payments:
- Only Automated Clearing House (ACH) transactions will be accepted. Credit card payments cannot be future dated.
- Your payment may be blocked by your bank.
- Your bank may require an authorization code from BWC. It is your responsibility to provide your bank with the BWC Debit blocker code: #3311334187
- If you would like to schedule more than one installment payment, you may do so through the Accounts Receivable screen by making multiple payments and choosing different dates for each one.
We hope you find this new offering a useful option for scheduling payments and ensuring you maintain active coverage.