It seems far away (and it is), but enrollment for 2023-2024 Ohio BWC savings programs has already started. We’ve had some other blogs that helped educate employers on how to choose the right TPA, but here are some additional things to be on the lookout for during “open season.”

•    Your current TPA will send your renewal for 2023-24 very soon, if they haven’t already. This is usually done in the hopes that you’ll go ahead and process it just to get it off your desk. There’s nothing wrong with taking your time and doing your research. If you send the renewal back to them in July 2022, you’re stuck with them through June 30, 2024. 

•    There are some sneaky marketing pieces out there from our competitors. We’ve seen mailers that say, “We value your continued business – your renewal is enclosed!” This would be great if you were actually their client. If there’s a new decision maker, or this ends up going straight to Accounts Payable, now you have a new TPA that you didn’t ask for. 

•    Are you being provided with program options - or being re-enrolled in Group Rating every year, with the assumption that your TPA would tell you if it wasn’t the most advantageous? Would Group Retro save you more money, or even an option outside of BWC? What other discount programs can you stack with the program you plan on choosing?

•    If you’re looking at Group Retro - are you being shown potential refunds around 50% or higher? We hate to break it to you, but it’s very unlikely. BWC has made several changes to the Group Retro program that means it just doesn’t yield the results it used to. 

•    Also – if you’ve lost Group Rating eligibility and are only being offered Group Retro, has your TPA taken the time to explain the schedule of refunds, and that they don’t come right after the policy year ends? Group Retro can be a great program, but it’s important to understand the logistics of it. 

•    Is your annual fee commensurate with the amount of work your TPA does? If you haven’t seen a claim in years and you’re being charged several thousand dollars, you may want to shop around. You’re not looking for the lowest fee, you’re looking for the most bang for your buck. On the other hand – let’s say your company has a few claims a year, and some of them seem to get away from you because you’ve been told it’s too costly or time-consuming to fight those claims. This is the opposite end of the spectrum – you’ve gotten what you’ve paid for, which is a glorified form filing service. Most of the actual claims management will be left up to you. 

•    That brings us to our next component – does your TPA provide a service agreement? This is what holds them responsible for claims management, not just submitting forms in a timely fashion. A good agreement should outline not only the services and support that will be provided for all claims & policy matters, but also the handling of contested claims. 
 

Spooner’s team is here to help businesses understand all of the options available, and make the right choice for next year’s programs. When you request a quote from us – you won’t just get an offer letter with how much you’ll save and the annual fee. We provide our prospects with a no-cost, in-depth analysis of both the policy and the claims to help businesses understand what will impact them, to what degree, and what could still potentially be done to remedy some of the financial impact.