The Group Rating Plan potentially lowers a company's operating costs by providing lower Workers Compensation premiums. Group ratings permit employers in the same or a similar industry to group their claims experience for rating purposes. By pooling companies with good experience, the group will attain a better rate than the individual rates of its members.
Discounts can be up to 53%
Enrollment in the program can only occur during the open enrollment period from May to October each year.
A company must submit an authorization form to the Chamber plan’s third party administrator.
The AC-3 form allows the Bureau of Workers Compensation to permit the third party administrator to review your company’s workers compensation account in order to determine eligibility for the group-rating program.
After an analysis of all companies that have made application, the administrator will notify you of your company’s eligibility status and, if you qualify, will mail you an estimate of your savings.
If you decide to join the Chamber program, you must complete the necessary forms and return them to the third party administrator.
Each member is charged an administrative fee to be in the program. By enrolling in a group rating program, you are also hiring plan administrator CareWorks Consultants Inc. to provide their claims cost control services. Fees vary depending on company size. Also, you MUST become a paid member of the Marietta Area Chamber of Commerce.
The Marietta Area Chamber of Commerce's Worker's Compensation Group Rated Program through CareWorks Consultants Inc. (CCI) could save your company significant money on your worker's comp premium. In 2012, 90 members of the Chamber saved a total of $195,704 on their workers' comp premiums. This amounted to a ROI of 662%!!
Fact: Over 75,000 Ohio employers are in a workers' compensation group. Most employers not in groups are paying much more than those in groups. CCI offers chamber members multiple savings levels from the BWC maximum to a lesser percentage, for companies with claims. The multiple levels of savings can possibly prevent you from losing your group rating discount once a claim occurs, simply dropping you down to a lower tier.
About CCI: As the largest workers' compensation third party administrator in Ohio, CCI provides best-in-class service to more than 26,000 customers. CCI has been serving Ohio employers since 1950.
Even if your company is enrolled in another workers' compensation group rating program, you should compare your current program to the chamber group rating program through CCI. For more information, or for a no-cost, no-obligation quote of your potential premium savings, contact Colleen Culp, the chamber's CCI representative at 1-800-837-3200 ext. 7228 or visit www.careworksconsultants.com/groupratingapplication/Marietta.
Or you can contact the Chamber at 740-373-5176 or firstname.lastname@example.org.