On May 1, the Bureau of Workers’ Compensation (BWC) will mail Notices of Estimated Annual Premium for the policy year that begins July 1, 2016.
Employers can also view policy year 2016 information by accessing the installment schedule through the My Policy page. Once there, you can also view or change your payment installment schedule for the upcoming policy year. For more information on how to change your installment schedule, view this 40-sec. video tutorial.
The BWC bases estimated premium on payroll amounts that your company previously provided. If you believe the payroll amount is incorrect, or if you anticipate a change in operations that will affect your payroll for the policy period beginning July 1, 2016, notify BWC at (800) 644-6292.
The first-ever payroll true-up period is coming July 1. This new process requires employers to report their actual payroll for the previous policy year and reconcile any differences in premium paid. Even if your payroll for the year matches the estimate BWC provided or you had zero payroll, you must complete a true-up report.
The quickest and easiest way to true-up will be online with a BWC e-account. To create an e-account, go to BWC’s website and click on the Create e-account link in the top right corner of the home page.