The Ohio Bureau of Workers’ Compensation Private Employer True-Up begins on July 1, 2022, and ends on August 15, 2022, for the policy year ending June 30, 2022.
What is a True-Up?
At the beginning of each policy period, the BWC estimates each employer’s premium amount based on either a 12-month annual payroll submitted by the employer when the employer signs up for Workers’ Compensation coverage or by using the estimated payroll figures from the year prior. At the end of the policy year, employers must enter their true payroll that reflects the actual payroll for the policy year. If the employer’s actual payroll exceeds the estimated payroll, the employer may owe an additional premium to maintain active coverage. However, if the true-up payroll is less, the BWC will issue a premium credit! To be eligible for a credit, the employer must have the information entered no later than August 15.
How do we submit the information?
Employers must submit their payroll true-up data online by logging into the employer’s policy pages.
What is reportable?
Gross hourly wages and gross salaries are less than most qualifying deductions for Section 125 cafeteria plan benefits. If employee pretax 401(k) or individual retirement account contribution deductions are included in the cafeteria plan, these are reportable to BWC.
Sick pay (including the third party, excluding workers’ compensation)
Wage continuation – money paid to injured workers in lieu of BWC paying temporary total disability
All sales commissions, bonuses, tips, severance, overtime, vacation, holiday, and shift or holiday differential pay; All stock gifts profit sharing going directly to the employees as payroll, medical saving programs which act as savings accounts, voluntary employee contributions to retirement plans, including 401K, contributions to deferred compensation by employees, personal use of company car, the reasonable value of board, and other expenses paid by the employer.
The reasonable value of board, lodging, house, or room rent unless provided for the convenience of the employer, located on the employer’s premises, and is a condition of employment.
Still unsure?
If you are uncertain about reporting or which classification to use when reporting your payroll true-up, we are here to assist you in making these determinations or any other employer workers’ compensation matters. Please contact attorney Kristina Curry at kcurry@pselaw.com or (937) 223-1130, Ext. 2250.
