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Group Rating

Companies of like industry with similar experience join together for an upfront discount of up to 53%. The discount is based on what already happened, therefore the claims that occur during enrollment year have no impact on savings.

This remains a low risk program with savings being very predictable every year. This is the most conservative choice and a good fit for employers that desire up front savings. Annual evaluation and re-enrollment required for this program, as it is based off of four years’ experience.

For Group Rating Overview

Group Retro

Companies of like industry are grouped together and retrospectively rated to receive a discount based on one year’s performance. There is no upfront adjustment to your premium, but a projected savings to be paid out in 12, 24, and 36 months after the time period.

There is a possibility of owing an assessment through group retro programs if the group performs badly. These assessments are capped at various levels typically ranging from 10%- 20%. Matrix groups have never been assessed.

For Group Retro Overview

Deductible Program

Helps employers lower their premiums by offering an upfront premium discount in the form of a per claim deductible at various levels.

The BWC will determine your level of discount based on your chosen deductible level and manual classifications. When you apply, choose a deductible level appropriate for your business. You will be responsible for claim costs up to the deductible level for any claim that occurs in the policy year of enrollment.

BWC will pay claims costs in full. You will then reimburse the BWC for any claim costs up to the deductible level you have chosen. Claims paid out of pocket at the 10k level or less also stay off of the employers experience.

Employers who select a level higher than 10k will pay claims claims costs and they will hit experience, however discounts are more significant still making the program attractive for some employers.

For Deductible Program Overview

Destination: Excellence

Destination: Excellence is a package of programs that eligible employers can select to customize their rating program to meet their specific needs. The key focus and purpose is to improve workplace safety, assist injured employee’s return-to-work, and reduce costs/premiums.

Employers may enroll in a variety of programs that offer potential discount incentives including Industry-Specific Safety, Transitional Work, Drug-Free Safety, Vocational Rehab, Safety Councils, Go Green Discount and Lapse-Free Discount.

For Destination: Excellence Overview

 

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