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Services
> Group Rating
If you
are a small business employer wanting to control your workers’
compensation costs, then the Hunter Consulting group rating
program might be your solution.
Overview
The
group rating plan allows employers that are substantially
similar in business type to merge their individual experiences
together, as if they are one large employer, for rate re-calculation
purposes. This allows employers to potentially achieve a
lower premium rate than they could on their own.
Formation
- Hunter
Consulting representing a sponsoring organization, such
as a chamber of commerce or trade association, reviews
your experience to determine if you qualify to be part
of a group rating program.
- The
sponsoring organization submits a list of employers who
are members of each group to the BWC by the required application
deadline.
- The
employers of the group must be businesses that are substantially
similar.
- The
group must substantially improve accident prevention and
claims handling, which must be annually documented.
- The
group must consist of at least 100 individual employers
or the combined premiums of the employers must exceed
$150,000
Eligibility
Employers
must be current on any and all undisputed premiums, administrative
costs, assessments, fines and monies due to the BWC.
- Must
be current on the payment schedule of any part-pay agreements.
- The
employer cannot have cumulative lapses in coverage exceeding
59 days within 18 months preceding the group rating application
deadline.
- Must
be in active coverage status by the application deadline,
and remain in active coverage status through the beginning
of the policy year.
Application
The
sponsoring organization will have each new employer complete
the Employer Statement for Group Rating Plan (AC-26). The
sponsoring organization representative will then submit
all employer application forms to BWC with the entire group
packet. The group rating plan is for premium rates for the
one policy year. Employers must re-apply every year in a
timely manner and are subject to eligibility requirements.
The
sponsoring organization will submit newly formed groups
each year by the last business day in February for Private
employers or the last Friday in August for public employers.
For
a free savings analysis, click
here to complete an AC-3 form.
Contact
us for more information.
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