Premium installment and true-up reporting for private employers
To receive and maintain workers' compensation coverage, employers must pay premiums timely to the Ohio Bureau of Workers’ Compensation (BWC).
Through the year, you have been making premium installment payments based on estimated payroll. Now, as we near the conclusion of 2021 policy year (7/1/2021 through 6/30/2022), BWC will be requiring all private employers to reconcile (“true-up”) the payroll that was used to estimate their premium with their actual payroll for the policy year. BWC will also be sending information regarding premium installments for the upcoming 2022 policy year (7/1/2022 through 6/30/2023).