Workers' Compensation

Annual BWC True-Up

Steve Wilson
filling out paperwork
Reading time 2 Mins
Published on Jul 3
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We are fast approaching the annual Ohio Bureau of Workers Comp reconciliation for the period July 1st, 2016 through June 30, 2017. Last year was the first year for this annual “True Up.” We now have answers for the questions you have. We learned quite a bit after last year’s true up. Considering the following items will alleviate many of the issues the true up can create.

1. The process to estimate payroll for the coming fiscal year was a “learn as you go” endeavor for both Sheakley and the Ohio BWC last year. We obtained a number of adjustments after our review last year, but we anticipate that there will be fewer adjustments needed this year.
2. If you are exiting your former PEO state fund or self-insured policy, we will need your workers compensation reports for those prior months that you were not a Sheakley client, in order to insure that we have an accurate estimate for the coming year.
3. We again urge employers to notify us if you anticipate large swings in your business volume. This may indicate a need to have your estimate recalculated for the coming year.
4. Clients who started with Sheakley under our Self Insured plan, subsequent to July 1 2016, will be responsible for filing their own true ups for the months prior to enrolling in the Sheakley Self Insured plan.
5. For the companies who became Sheakley HR clients subsequent to July 1, 2016 and stayed on their own State Fund policy, make sure we have your Workers Compensation payroll reports for July 1, 2016 until your start date with Sheakley. We will file your true up for you.
6. Our goal is to have all true ups completed by July 30, 2017 in order to meet the deadlines imposed by OHBWC.

For more information, you may contact the Ohio BWC at 1-800-644-6292. Or you may call us at 513-728-6678 and ask for Steve Wilson or Melanie Tarpoff.


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