CareWorks Comp offers comprehensive Third Party Administrator Services to chamber members, including:
Joining a group rating program is the best way for Ohio employers to significantly lower their Ohio workers’ compensation premiums. Through a partnership with CareWorks Comp, chamber members can take advantage of:
You might still be asking how much a group rating program could save your business on workers’ comp premiums. The following two scenarios illustrate the significant impact of achieving group rating status:
|A company in Group Rating||A company NOT in Group Rating|
|Annual Premium: $1,000||Annual Premium: $1,000|
|Group Rating savings: 53%||Group Rating savings: 0%|
|Premium Savings: $530||Premium Savings: $0|
|Total paid to BWC: $470||Total paid to BWC: $1,000|
Currently, more than 32,000 companies participate in a CareWorks Comp administered group rating program, making CareWorks Comp one of the largest third party administrators (TPA) in Ohio. This equates to group stability. It also means CareWorks Comp has the resources and experience to provide top-notch service.
If you’re not currently enrolled in the CareWorks Comp group rating program and are interested in a no-cost, no-obligation evaluation for the 2020 policy year, please complete the form found at the link below.
Group Retrospective Rating is a program that allows Ohio Bureau of Workers’ Compensation (BWC)-certified group sponsors to pool together employers of like industry who meet their criteria for safety and claims management practices. When the total cost of claims are lower than the premium paid, the group members can receive a premium refund. It is important to note that participants must pay their full premium upfront for this program.
Employers who wish to participate in group retrospective rating must fully understand the risk involved. If the group’s claim costs exceed the group’s premiums paid, the entire group of employers will pay a premium assessment. This assessment is capped at a predetermined rate.
Deadlines to enroll:
The Ohio Bureau of Workers’ Compensation would like all Ohio BWC Group Rating Program participants to review the following documents that will help to ensure safe working environments for Ohio employers and employees:
CareWorksComp offers a no-cost, no-obligation analysis of an employer’s potential group rating or group retrospective ratings. Contact Julia Bowling, CareWorksComp chamber representative, by calling 513-218-4062 or filling out the short form below.