Self-insurance is a privilege the BWC grants to certain employers that can show an ability to directly pay compensation and medical costs for work-related injuries. Employers that are approved by BWC to pay workers’ compensation benefits directly have must demonstrate sufficient financial strength and administrative ability to assure that they promptly meet all obligations under Ohio Revised Code 4123.35.
By accepting the privilege of self-insurance, an employer acknowledges the ultimate responsibility for the administration of workers' compensation claims in accordance with the laws and rules that govern self-insurance.
To qualify for self-insurance, an employer must meet the following requirements:
- Authorization from the Ohio Secretary of State to do business in this state;
- Two years of experience with the Ohio State Insurance Fund;
- Demonstrate strong financial stability;
- Possess the ability to administer a self-insured program;
- Maintain an account with a financial institution in Ohio, or draw compensation checks from the same account as the payroll checks;
- Have a BWC-certified Qualified Health Plan (QHP) or medical-management plan.
The below links provide additional information about the self-insured program: