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Services
> Group Retrospective-Rating
Under the Group
Retrospective-Rating Program, employers can band together
through a sponsoring organization and earn refunds (or be
charged assessments) based on performance. Employers
will pay their individual premiums for the initial policy
year and at 12, 24, and 36 months after the initial policy
year the BWC will review the claims costs and standard
premium of the group as a whole. If the review
indicates a decrease in premium then each employer in the
group will receive a refund, but if the premium has
increased an assessment will be issued.
Eligibility
- Must be a private,
state-fund employer or a public employer taxing district
- Be Current on any and all
premiums or other monies owed to the BWC
- Employer
must be in good standing with the BWC.
- Must
have active coverage by the application deadline
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Must be current on premium payments
- May
not have cumulative lapses of more than 40 days in
the past 12 months
Application
The
sponsoring organization will have each new employer complete
the Employer Statement for Group Retrospective Rating Plan (U-153). 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 April for Private employers
or the last business day in October for public employers.
Contact
us for more information.
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