CompManagement

Save on your workers’ compensation premiums

COMPMANAGEMENT 7 2014

If you pay into the Ohio Bureau of Workers’ Compensation (BWC) for workers’ compensation premiums, we have savings programs and cost containment strategies for you that are already a part of your member benefits with the Ohio Society of Certified Public Accountants (OSCPA).

Who is CompManagement?

CompManagement is OSCPA’s program administrator and the leading third party administrator for workers’ compensation in Ohio, representing nearly 30,000 employers in virtually every industry classification from large corporations to small family-owned businesses. CompManagement clients have saved over $2.3 billion in workers’ compensation premiums since 1991.

Services include:

It is recommended that all state funded employers annually review the BWC alternative rating/premium discount programs available through OSCPA’s program and administered by our workers’ compensation partner, CompManagement.  Members may utilize the expertise of CompManagement’s colleagues to review their policy and determine the programs that may garner the most savings while keeping in mind their risk tolerance.  Major discount programs include:

  • Group Rating - Savings generally range from 20% of premium to the maximum discount allowed by the Bureau of Worker’s Compensation (BWC)
  • Destination Excellence - Includes Administrative rebates, Safety Council rebates, an Industry Specific Safety bonus, a Drug Free Safety incentive program and a Transitional Work Grant program with up to a 10% bonus (stackable with Group Rating)
  • Drug Free Safety - Receive a discount between basic (4% bonus) or advanced (7% bonus) level programs to help your organization prevent on-the-job injuries and illness by integrating drug-free efforts (stackable with Group Rating)
  • Safety Council - Receive a rebate of 2% of your annual workers’ compensation premium through program participation and an additional 2% performance rebate on the reduction of the frequency or severity of claims (stackable with Group Rating)
  • Group Retrospective Rating - Receive retrospective premium refunds at the end of the three evaluation periods if claim costs are kept below a predetermined amount
  • Grow Ohio - To encourage job creation, the Grow Ohio incentive program provides new employers in the state with the option of participating in a Group Rating program or an automatic 25% discount on their workers’ compensation premium
  • Other Alternative Rating Programs - CompManagement also encourages all members to look at program discount/rebate stacking options when participating in either Group Rating or Group Retrospective Rating.  When participating in Group Rating, consider adding on Industry Specific Safety (3%) and Transitional Work (up to 10% bonus).  Group Retrospective Rating participants should consider stacking on the Safety Council participation rebate (2 %).  Whether participating in Group Rating or Group Retrospective Rating, additional discounts can be added such as Lapse Free (1%) and Go Green (1%)

     

    For more information on all of the alternative rating / premium discount programs, click here.

     

    Why request a quote?

    CompManagement offers a free, no-obligation evaluation to assist with your annual due diligence to compare discount opportunities and fees.  This is an opportunity to compare TPA services and receive valuable account information including rating options, premium estimate and claims history.  CompManagement’s experts will offer suggestions for participation in programs that can be stacked together to maximize your savings. 

     

    2 easy ways to complete your request for a free evaluation/quote:

  • Savings – Over $120 million annually saved for their clients in workers’ compensation premium paid.
  • Expertise - Management team averages 25 years industry experience; operations team averages 18 years.
  • Lower Rates – Clients average experience modifier is 38% below base; industry average is 13% below base.
  • Service - 96% client retention rate creating a model of service excellence through partnership & consultation.
  • Top Tier Discounts - More clients qualify for group rating discounts between 50-53% than those of any other larger TPA
  • Program Enrollment – More clients participate in discount programs than those of any other larger TPA

 

If your current third party administrator is not providing your organization with these alternative options, or elevating your service experience, consider enlisting the services of CompManagement, Ohio's leading workers' compensation administrator and take advantage of this tremendous member benefit offered by OSCPA.

To connect with CompManagement and stay current on all the latest news and information, consider one of the following:



CompManagement resources

  • Client Education Program - A comprehensive program for current clients of CompManagement covering a variety of topics within the workers' compensation and unemployment compensation industries 
  • Online Training - A powerful, web-based tool that enables organizations to efficiently train any number of employees through self-paced courses.
  • Safety Academy – CompManagement’s Safety Academy courses provide you with compliance programs to meet OSHA's core regulatory standards, while equipping you with the tools to reduce occupational incidents and eliminate potential physical hazards.To view the current sessions available and register to attend, click here.


Request a quote

  • Online Now
  • Call CompManagement’s Customer Support Unit at 800.825.6755, option 3 or visit our website.
  • Contact Account Specialist Rejeana A. Woolum-Napier: 614.359.2403 or rejeana.woolum-napier@sedgwick.com
  • Print the AC-3 Ohio BWC Temporary Authorization to Review Information form:

Safety first

CompManagement provides a monthly safety feature to provide valuable insight on how you can create a safer environment in your workplace and ultimately avoid costly workers’ compensation costs.

Resources from BWC