The Individual-Retrospective-Rating Program allows employers to initially pay BWC less premium than it would without the plan.
An employer participating in individual-retrospective rating may earn a possible premium reduction by assuming a portion of the risk. The greater the portion of the risk assumed, the greater potential reduction in premiums.
- Have at least $25,000 of estimated premium.
- Be in an active status on the first day of the policy year.
- No cumulative lapses in coverage in excess of 15 days within the last five rating years.
- Be current on all premium payments and deductible billings at the time you apply.
- Be current on any and all undisputed premiums, administrative costs, assessments, fines or monies otherwise due to any fund we administer.
- No unpaid audit findings or other unpaid billings as of the application deadline.
- Demonstrate financial strength and stability. Additional financial requirements may apply in certain circumstances.
- Report actual payroll for the preceding policy year, and pay any premium due upon reconciliation of estimated premium and actual premium for that policy year no later than the date set forth in Ohio Administrative Code 4123-17-14.
- Additional eligibility requirements
Enrolling in the program
Private employers: Complete the Application for Individual-Retrospective- Rating Plan (U-20) by the last business day in January.
Public employers: Complete the Application for Individual-Retrospective- Rating Plan (U-21) by the last business day in July.
Minimum premium percentage individual retrospective rating charts