With the ground rules now established for the program, the OMA will be sending today and early next week emails and faxes indicating projected savings for 2012-13 to its qualified group rated members and prospects. Enrollment kits will be sent via U.S. mail in two weeks.
Ending a group-rating marketing moratorium on TPAs, the Bureau of Workers Compensation (BWC) board of directors voted today to ratify a recommendation from the board’s actuarial committee to set the maximum group rating discount for the 2012-13 policy year at 53%. It is currently 65%, but with the breakeven factor, produces an effective maximum discount of 51%.
The board also voted to eliminate the breakeven factor, an actuarial device that had been used to minimize the subsidization of non-group rated employers’ premium by group rated employers.
Contact your account manager, Georgia Booth, Jay Kemo, Barb Raduege, or member services director, Greg Vergamini, for information.