A number of employers’ BWC premium installment invoices were recently adjusted by the BWC. The adjustment increased the remaining installment payments for the current July 1, 2017 rate year. The reason being that when BWC initially calculated the July 1, 2017 rate year premium installments, they were based on the July 1, 2015 rate year payroll.
Recently, the BWC compared the July 1, 2015 rate year payroll with the actual July 1, 2016 rate year payroll (which was reported in the August 2017 True Up.) If there was a large increase in the July 1, 2016 payroll, the BWC adjusted the remaining installments for the current July 1, 2017 rate year. The BWC’s goal is to deter employers from having a large True Up at the end of the current rate year. In the last few days, BWC has sent letters to those impacted employers, explaining the change to the remaining premium installment payments.