Ohio Hospital Newswire


BWC Payroll True-Up Reports Due by Aug. 15




The Ohio Bureau of Workers’ Compensation this week issued a reminder that 2017 policy year payroll true-up reports are due by Aug. 15.
Prior to each policy year, BWC establishes estimated premiums based on the most recent payroll that was reported. Once the policy year is completed employers must complete the true-up report. The true-up is a reconciliation an employer’s BWC estimated payroll versus the actual policy year payroll used to determine the correct amount of chargeable premium. If the actual payroll exceeds BWC estimates, an employer will owe BWC additional premium based on the higher payroll and if the actual payroll is lower than BWC estimates you will receive a premium credit.
The 2017 rate year ended June 30. The true-up is mandatory and is required of all employers even if the organization has zero payroll.
The true-up report must be completed online and can be accessed through the BWC webpage.
Failure to true-up is costly. BWC can lapse coverage and/or disqualify a company from any alternative rating programs including group rating. BWC considers the true-up completed when payroll is reported, and any outstanding premium balances are paid.
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