BWC Rating Programs

Your experienced advisor

The Ohio workers’ compensation system is very complex, and often difficult to navigate without an experienced advisor. CareWorksComp works with more than 46,000 Ohio businesses to find the best program to meet their unique business needs and provide them with the lowest cost. Programs include:

Base Rating

Base rating allows employers to pay workers’ compensation premiums based on the average costs of claims filed against all employers in like industries, utilizing the same manual classifications.

Group rating

Group rating allows employers operating similar businesses to group together to potentially achieve lower premium rates than they could individually. Each group is sponsored by a BWC-certified organization, such as a trade association or chamber of commerce. The sponsoring organization forms the group based on eligibility requirements.

Experience Rating

Experience-rated employers can be credit-rated or penalty-rated, depending on the claims cost record of their particular business. Employers who qualify for experience rating are usually larger, with expected losses of $2,000 or more. An experience-rated employer, with a better-than-average loss experience compared to others in the same manual classification, may receive a credit and pay a rate lower than the base rate. An experience-rated employer with a higher-than-average loss experience will be penalized and pay a rate higher than the base rate.

Group Retrospective Rating

Group retrospective rating allows BWC-certified group sponsors to pool together employers (of like industry) who meet their criteria for safety and claims management practices. When the total cost of claims are lower than premium paid, the group members can receive a premium refund. While this program provides the potential for premium savings, employers will share a predetermined level of risk (assessments) with other plan participants. It is important to note that participants pay their full premium upfront for this program.

Retrospective Rating

A retrospective-rated employer assumes a portion of the risk in return for a possible reduction in premiums. The greater the assumed risk, the greater the potential reduction in premiums. Employers can customize the retrospective rating plan to control the amount of risk assumed and the potential savings by selecting the maximum premium and maximum claims costs they are willing to pay. Employers with a consistent claims history and proven safety practices benefit the most from retrospective rating.

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