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If you’re confused about workers’ comp in Ohio, you’re not alone.
Join us to learn more about how the workers’ comp system works, what you need to know as an employer and how to make the best choices for your business.
As an Ohio employer, you are required to provide coverage to your employees in case a workplace injury occurs. Ohio is one of only four monopolistic states for workers’ compensation. In other words, in these states, private insurance companies are not allowed, as there is special legislation that requires workers’ compensation coverage be provided exclusively by that state’s designated program. In Ohio, employers must abide by the Bureau of Workers’ Compensation (BWC) coverage requirements.
There are three key parties in the Ohio workers’ compensation system:
1. The Bureau of Workers’ Compensation (BWC) - The State of Ohio government agency responsible for Ohio’s workers’ compensation system.
2. Managed Care Organizations (MCOs) - Network of private companies through which BWC coordinates health-care services to injured workers.
3. Third Party Administrators (TPAs) - Private service providers, hired by Ohio employers to navigate the workers’ compensation system and help keep premium costs as low as possible.
Employers are required to select an MCO, or the BWC may assign one to them. TPAs, on the other hand, are not required, and each employer can decide if they want to hire a TPA. Organizations, like your Better Business Bureau, sponsor group savings programs – group rating and group retrospective rating.
If all this makes your head spin, join us to learn more and ask questions. We’ll discuss:
Do you need a BWC policy?
Do you need an MCO?
Should you hire a TPA?
What’s the difference between group rating and group retrospective rating?
Which program is best for you?