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November deadline set for enrollment in workers' comp group rating
The Ohio Bureau of Workers' Compensation is moving to a prospective billing process, meaning it will collect payment before issuing coverage rather than after.
As part of this change, it is moving up the deadlines for employers to participate in group rating programs. Farmers will have to enroll in their group rating program by Nov. 14, 2014.
According to Ohio Farm Bureau’s group rating provider CompManagement, Inc., a one-time premium credit will be given to employers that will aid in the transition to a prospective billing cycle. In addition, there will be new payment schedules and a “true-up” process to ensure employers are paying the correct rate, as premiums will be based on estimated payrolls.