To pay the cost for workers' compensation coverage, BWC:
- Establishes an estimated premium for each employer for a policy year.
- Sends each employer an installment schedule for paying the premium.
BWC bases your installment amount on your estimated payroll. If you have a significant change in payroll at any time during the policy year, we encourage you to report it to BWC. This allows us to adjust your premium installments accordingly.
In July of each year, we require you to reconcile the payroll amount used to estimate your premium with your actual payroll amount for the policy year. This process is called payroll true-up. Your company must complete the payroll true-up even if you have zero payroll. Refer to True-up reports for more information.
When are premiums paid?
Private employers pay workers' compensation premiums based on a July 1 to June 30 rating year. Public employers pay their premium based on a Jan. 1 to Dec. 31 rating year.
Employers have the option to select a preferred premium installment schedule.
- Monthly (12 payments)
- Bimonthly (6 payments)
- Quarterly (4 payments)
- Biannually (2 payments)
- Annually (1 payment)
Minimum payers (those paying only the $120 administrative fee per year) must pay their premium by June 30 each year.
BWC must receive your premium (installment) payments by the due date. If not, your coverage will lapse. The policy will remain lapsed until you pay the missed installment payments and any BWC penalties.
Important: If an employee is injured during a period of a coverage lapse, you're responsible for any claim costs, unpaid premiums and additional BWC penalties.
How do you make a payment?
Guarantee we receive your installment payments on time by submitting them online. You can also receive a rebate for paying premiums and reporting payroll online with BWC's Go-Green Discount Program.
Employers can pay online by the following options:
- With a credit card (MasterCard®, VISA® or American Express®).
- Authorize a payment from your checking or savings account.
- If you authorize payment from your checking or savings account, you can future date your premium payment up to the due date for the policy period.
Important: The date you make a payment online is the date used for reinstatement of coverage.