Complete Story
03/22/2017
Another Billion Back!
Association partner, CareWorksComp, has shared BWC's press release, March 20, 2017.
BWC is proposing a one-time rebate of approximately $1 billion for private employers and public-taxing districts. This includes an estimated $967 million to private employers and $133 million to public employer taxing districts.
In total more than 200,000 employers will receive rebates. BWC is also considering an additional, significant investment in workplace wellness and safety. BWC has begun developing ideas to support this request and expects a proposal in April that will help significantly reduce workplace injuries.
To become effective, the proposal must go to the BWC Board of Directors for a first read on March 15, and then must have a second read and be approved by its board on April 28.
How much will employers receive and when?
If approved at the board’s April 28 meeting, most rebates would equal 66% of the employer’s premium for the policy year ending June 30, 2016 (calendar year 2015 for public employers). If approved, BWC expects to begin sending checks in early July.
Private employers in the group-retro program will have their rebate amount calculated and paid following the 12-month premium calculation scheduled to occur in October 2017.
