Ohio Administrative Code › Title 4123 - Bureau of Workers' Compensation › Chapter 4123-19 - General Procedures for State Insurance Fund; Self-Insuring Employers › Section 4123-19-15 - Assessment for self-insuring employers' guaranty fund

Current through all regulations passed and filed through July 1, 2024
(A)
			 The bureau  shall
			 require self-insuring employers to pay a contribution to the self-insuring
			 employers' guaranty fund as provided in this rule. The contributions due from
			 self-insuring employers shall be established at rates as low as possible but
			 such as will ensure sufficient monies to guarantee the payment of any claims
			 against the fund. All self-insuring employers who are paying compensation as
			 defined by division (L) of section
			 4123.35 of the Revised Code,
			 whether active or inactive as a self-insuring employer, are required to pay a
			 contribution to the fund as provided in this rule.
(B) The bureau shall maintain a minimum
			 balance of funds in the fund of one and one-quarter times the prior year's
			 payments from the fund as determined at the end of each calendar year to ensure
			 sufficient monies to guarantee the payment of any claims against the fund. When
			 the bureau determines that there are insufficient funds in the fund and an
			 assessment is necessary to ensure the minimum balance in the fund, the bureau
			 shall assess all self-insuring employers an annual contribution as determined
			 by the administrator  to maintain the minimum balance. Annual contributions
			 will not be assessed to all self-insuring employers when the bureau determines
			 that the fund exceeds the minimum amount necessary to guarantee the payment of
			 any claims against the fund, except as provided in paragraph (C) of this rule.
			 The administrator may offer a rebate to self-insuring employers who use the
			 bureau's electronic payment and e-notification offerings.
(C) In addition to any contribution required
			 of all self-insuring employers as provided in paragraph (B) of this rule, the
			 contribution to the self-insuring employers' guaranty fund shall be as follows:
(1) New self-insuring employers, for each of
			 the first three years of self-insurance, shall be assessed six per cent of base
			 rated premium as reported on the most recent full policy year's payroll
			 submitted as a subscriber to the state insurance fund. This assessment shall
			 not apply to entities added to the coverage of an existing self-insuring risk
			 after the first three years of self-insurance of the existing risk. If the
			 applicant has not been a subscriber to the state insurance fund for a full
			 policy year, the applicant shall submit to the administrator payroll amounts,
			 manual classifications, and such other information as the administrator may
			 require to calculate the applicant's base rated premium for the previous policy
			 year, had the applicant been operating in Ohio as a subscriber to the state
			 insurance fund.
(2) A self-insuring
			 employer identified as a 
									high-risk employer by the bureau shall be
			 assessed six per cent of the previous year's paid compensation as reported to
			 the bureau or shall be required to provide appropriate security as defined in
			 rule 4123-19-03 of the Administrative
			 Code.
(3)
									The
			 assessment shall not be less than five thousand dollars for any twelvemonth
			 period of coverage. All annual premiums to the self-insuring employers'
			 guaranty fund are due and shall be collected within forty-five days from the
			 receipt of the bureau's invoice. Self-insuring employers not making timely
			 payments shall be subject to revocation of self-insuring employer
			 status.