1/22/08 BWC Offers Discount for Early Premium Payment
The Ohio Bureau of Workers' Compensation has announced that it will offer a discount rate of 3.03% APR to public employers who pay their entire premium on or before May 15. It automatically refunds the savings after payroll is processed. The BWC calculates the amount of the discount on total premium and the date the public employer chooses to pay premiums. The earlier a public employer pays its premiums, the larger the discount it receives. Public employers must pay a minimum of 45% of their total premium costs by May 15. The remaining 55% is due by Sept. 1.
