Retrospective Rating
This program is designed for larger employers
who are willing to start self-insuring part of their program. Essentially,
employers become responsible for the direct medical and compensation
costs associated with their claims in a given year (July 1 through
June 30). In exchange, the BWC significantly reduces the employer’s
premium liability for the same time frame.
Employers who aggressively manage their cases
and have comprehensive safety programs can find this program to
be quite lucrative. The fewer claims in the retro period equal
greater savings to the employer.
In addition to an annual savings analysis, V&A
provides its retro clients with monthly reporting to assist them
in forecasting their retro claims liability. Additionally, each
client will receive an extensive year end summary detailing the
retro advantage (loss), claim buyout, and year end billing estimates.
Retrospective Rating Enrollment Kit (Deadline 5/31)
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