The following BWC update was provided to us by NOACC and written by Peter Young, Senior Consultant at Paramount Preferred Solutions.
The BWC continues to make policy and process changes due to the COVID-19 emergency. There are several timely and important topics to review closely at this time:
- BWC is currently delivering Estimated Annual Premium letters to employers for the 2020 policy year (July 1, 2020 – June 30, 2021). BWC’s 2020 payroll estimates are based on actual payroll reported for the year ending 6/30/2019. However, BWC is reducing 2020 payroll estimates by approximately 20% due to assumed COVID-19 business challenges. This could impact what employers will owe when completing BWC’s 2020 True-Up Report (due August 15, 2021).
- Currently BWC does not charge penalties or interest if employers underreport estimated payroll, however employers may want to adjust their 2020 estimated payroll to avoid a large 2020 True-Up (due 8/15/2021).
- Employers can revise their 2020 premium installment schedule to better match 2020 cash flow estimates. Monthly, bi-monthly, quarterly, semi-annual and annual options are available. May 15, 2020 is the last day BWC accepts changes to employer’s 2020 installment plans.
- BWC is also allowing employers to add manual #8871 – Telecommuting, for operational employees temporarily working at home.
- May 29, 2020 is the enrollment deadline for BWC’s Transitional Work Bonus, Drug Free Safety Program and Industry Specific Safety Program for the policy year starting July 1, 2020.
- BWC will provide rebates for the 2019 Safety Council Program as long as employers attended at least 4 monthly meetings by February 29, 2020.
NOACC Says that Paramount Preferred Solutions and Peter Young stand ready to help you figure out solutions to these topics. They ask that you reach out to Peter Young directly with any questions. Peter’s cell phone is 216-402-4006 and email is peter.young@paramountpreferredsolutions.com.
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