All 2018 BWC Premium Installment Plan Payment DUE DATES Have Changed to a 20 Day Invoice Cycle
EXAMPLE: Employers on the 2018 bi-monthly installment payment plan, your 2018 premium payment #1 is due June 21, 2018 (the invoice was mailed around June 1, 2018). This plan’s payment provides BWC coverage for the period July 1 – August 30, 2018.
Failure to pay your BWC premiums on time will cause your policy to “lapse”. As a result of non-payment, employers will not have active workers’ compensation coverage for their business. Among other penalties, lapsed employers will be responsible dollar for dollar for the cost of any claim that occurs during the lapse period, and could become ineligible for a BWC premium discount program during the next policy year.
OPPORTUNITY: Earn an extra 2018 BWC 2% Early Premium Payment Discount
Employers who pay their full 2018 estimated premium by June 30, 2018 can receive a 2% premium discount. BWC will credit the discount to your policy after you pay your premium. This discount has no cap, and will be applied on top of your 2018 premium discount plan such as group rating.
REMINDER for July 1, 2018: True-Up Report Start Date for Policy Year 2017 is July 1, 2018
BWC’s 2017 premium “True-Up” reporting period starts July 1, 2018. BWC requires that you file a “True Up” report annually. For BWC policy year 2017, employers must file actual payroll figures using BWC’s on-line True Up reporting tools for the period 7/1/17-6/30/18. BWC’s 2017 True Up report is due no later than August 15, 2018.