OhioBWC - Employer: (Self-insuring) - Assessments and descriptions | ||||
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Assessments and descriptions | |||
BWC evaluates the self-insured assessment rates annually to make sure there is a minimum balance, and to guarantee payments of claims against the various funds. We have listed the 2017 rates beside the 2016 rates as a comparison in the table below. Changes in the rates are a function of paid compensation reported by self-insuring employers and costs paid on behalf of self-insuring employers. The assessments based upon the 2017 rates will be paid in February and August 2018. For more information about these assessments, view our Self-Insuring Assessments Frequently Asked Questions sheet. If the paid compensation for a self-insuring employer for calendar year 2016 is less than $14,416.15 the minimum assessment to be paid is also listed for each mandatory assessment. | |||
Mandatory assessment description | 2016 rates July 2016-June 2017 |
2017 rates July 2017-June 2018 |
2017 minimum assessment |
Surplus Fund (mandatory) | 0.0600 | 0.0490 | $706.39 |
Guaranty Fund | 0.0950 | 0.1060 | No minimum |
Administrative Cost Fund (BWC) | 0.0893 | 0.0893 | $1,287.36 |
Administrative Cost Fund (IC) | 0.0668 | 0.0668 | $963.00 |
Division of Safety & Hygiene | 0.0030 | 0.0030 | $43.25 |
Optional assessment description | 2016 rates July 2016-June 2017 |
2017 rates July 2017-June 2018 |
2017 minimum assessment |
Surplus Fund (disallowed claims reimbursement) |
0.0380 | 0.0050 | No minimum |
Changes in the rates are a function of paid compensation reported by self-insuring employers and costs paid on behalf of self-insuring employers. The assessments based upon these assessment rates are paid in February and August each year.