The NARI of Central Ohio compensation program, administered by Sedgwick, offers ways to significantly reduce your workers’ compensation costs through a variety of alternative rating programs.
Now is the time for your True-Up and our partners at Sedgwick can help you through this process. Failure to do the True-Up can disqualify employers from group rating and other discount programs. For more information, please reach out to our dedicated Sedgwick point of contact, Julia Bowling ([email protected] | 513-218-4062). See below for more details about the True-Up process and as always, please reach out to our office to discuss this and other offerings of membership.
BWC provides workers’ compensation coverage based on estimated payroll. Therefore, at the end of the policy year, BWC asks employers to report their actual payroll for the prior policy year and pay any shortage (or receive a refund for any overage) in premium. This process is called a true-up. If the true-up is not completed timely, the following may occur:
- Employer will not be eligible for prior year rebates and incentives
- Employer will be removed from current year programs
- Employer will become ineligible for programs the following year and will continue to remain ineligible for all future years until all past true-ups are completed
In defining payroll, the Ohio Bureau of Workers’ Compensation (BWC) follows the guidelines of the Ohio Department of Job and Family Services, as well as the Federal Unemployment Tax Authority (FUTA) in the businesses section.
The more common types of reportable payroll include sick pay, vacation pay, bonus payments including stock given as a bonus, sales commission, tips, and all gross hourly wages and salaries less qualifying deductions for section 125 cafeteria plan benefits. Contact BWC or go to www.bwc.ohio.gov, select For Employers/Compliance/Reporting Payroll for a complete list of reportable payrolls. You may also contact Sedgwick’s Rate Department at (800) 825-6755 with any questions.
How to report payroll and complete the true-up
BWC anticipates high call volumes and long wait times. They strongly encourage employers to complete their true-up report online through their BWC e-account at www.bwc.ohio.gov. If you do not have an e-account, simply select the Create E-Account Link to begin. You will need your BWC policy number and/or Federal Tax Identification Number.
Private employers – true-up report must be completed, and payment received no later than August 15, 2022
Additional rebates are available should an employer utilize their e-account through the BWC’s website. Eligible employers will qualify for a 1 percent Go Green premium rebate (up to $2,000 maximum) by filing electronically. To be eligible for the Go-Green Rebate, you must complete the true-up online and pay any balance at that time as well as opt into invoice email notifications.