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OhioBWC - Employer - Service:  (FlexPay) - Details


FlexPay

Private state-fund employers must report payroll and pay premium twice a year, by Aug. 31 for the 1/1/XX to 6/30/XX period and Feb. 28 for the 7/1/XX to 12/31/XX period. FlexPay provides you with an alternative method of paying your premium. It allows you to pre-pay your premiums online and receive discounts for early payment.

Private state-fund employers with active coverage are eligible to participate in FlexPay regardless of their participation in BWC alternative rating/discount programs. You are not eligible to participate or receive any discount if you report zero payroll for the reporting period. The early payment discount is available to you only if you pay your premiums online. If you are participating in individual- retrospective rating, BWC will apply your early payment discount only to the minimum premium as defined by rule 4123-17-44.

With FlexPay, discounts are incremental and decline based upon the payment date. The earlier you pay your premiums, the larger the discount. We will base the discount rates on our most recent actuarial audit, so they may fluctuate by payroll period. BWC will apply your discount to the total blended premium you pay after all other discounts, dividends, etc.

Eligible employers wishing to participate in FlexPay can view a schedule of discounts and payment deadlines that must be met to receive the corresponding discount. See example below.


Example only
Payment by Discount rate
Jan. 31 2.00%
Feb. 28 1.71%
March 31 1.43%
April 30 1.14%
May 31 0.86%
June 30 0.57%
July 31 0.29%
Period due date: Aug. 31

The amount of the discount we apply to your payment depends upon the date we receive it online.

Example: If you pay your premiums by Feb. 28, you’ll receive a 1.71-percent discount as illustrated in the above table. If you pay by July 31, you’ll receive a discount of 0.29 percent. If you pay your premiums after the final FlexPay payment dates for the semiannual payroll periods (7/31/XX in the above example), you’ll receive no discount.

Besides paying your premiums online and receiving a discount through FlexPay, you’ll also be able to view a history of your payments and the applied discounts.


Transaction date Transaction type Transaction amount
March 30 Discount $69.79
March 30 Payment $4,880.67
Feb. 21 Discount $48.08
Feb. 21 Payment $2,811.76

With a two-month overlap in the payment schedules, you will, at times, be able to view the payment history for two periods. You also can view the payroll you’ve reported through FlexPay.

We will accept payroll information, actual or estimated, with payment at any time during the applicable period. You can make payments on your own schedule (monthly, bimonthly, quarterly, etc.). Your initial FlexPay payment must be a minimum of $50. If your reported payroll generates premium less than $50 the credit balance will be available to apply to future FlexPay premium. You can make payments without reporting payroll. However, when reporting payroll, you must make a premium payment either via electronic funds transfer, credit card or credit transfer if you do not have a Current Plan Balance Credit. Once you choose to use FlexPay, you must report all your payroll and make all premium payments for the period online. In addition, if you want to use FlexPay for subsequent reporting periods you must re-enroll for each period.

Throughout the reporting period, employers in FlexPay can view a summary of the net premium (for the payroll reported), the total discounts applied, payments made and the current balance. The Discounted Amount Due is the amount that, if paid that day, would result in a zero balance under FlexPay for the period. The example below assumes that the employer is viewing the summary when a discount rate of 1.43 percent is in effect.


A B C D E
Net premium Total discount applied Total payments Current plan balance
[A-B-C]
Discounted
plan balance
[D/(1+discount applicable)]
$13,119.86 $207.27 $7,935.77 $4,976.82 $4,906.65

Once you have reported all payroll and paid the entire premium for the semiannual period, you can finalize your FlexPay plan, and download and print a Certificate of Coverage. This assumes that you have active coverage.

We will apply any payment you make through FlexPay to the premium owed for that reporting period. These payments cannot be transferred from FlexPay to cover other balances you owe. However, you will be able to transfer available credit balances from your account to FlexPay. We will refund or apply overpayments to any outstanding balance after you finalize your FlexPay plan.

If you fail to finalize your FlexPay plan, your coverage will lapse. Additionally, we will post any payroll reported and premium paid to your account after the final reporting date. Standard penalties will apply to any net balance due, total premium due less discounts, dividends and early payments made.



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