Chamber Membership Pays! Enrolling in the Marietta Area Chamber of Commerce's Group Rating Plan could save your company significant money on your worker's compensation premium. In 2010, 90 members of the chamber saved $191,278 on their workers' comp premiums, with one member alone saving nearly $20,000!
The Group Rating Plan potentially lowers a company's operating costs by providing lower workers compensation premiums. Group ratings permit employers in the same or a similar industry to group their claims experience for rating purposes. By pooling companies with good experience, the group will attain a better rate than the individual rates of its members.
Chamber members are eligible to participate in a Group Rating Plan offered through CareWorks Consultants Inc. (CCI). This partnership provides our members with the best in-class service and reduces the impact of workers' compensation claims. CCI is Ohio's largest Third Party Administrator serving over 30,000 customers, so they offer a depth of expertise and experience plus exceptional customer service. CCI has been serving Ohio employers since 1950.
To enroll, a company must submit an AC-3 authorization form to the chamber plan's third party administrator, which allows the Bureau of Workers Compensation to permit the third party administrator to review your company's workers compensation account in order to determine eligibility for the group-rating program. After an analysis of all companies that have made application, the administrator will notify you of your company's eligibility status and, if you qualify, will mail you an estimate of your savings. If you decide to join the chamber program, you must complete the necessary forms and return them to the third party administrator.
Each member is charged an administrative fee to be in the program. By enrolling in a group rating program, you are also hiring plan administrator CareWorks Consultants Inc. to provide their claims cost control services. Fees vary depending on company size. Also, you must be a member in good standing of the Marietta Area Chamber of Commerce.
Over 75,000 Ohio employers are in a workers' compensation group. Most employers not in groups are paying much more than those in groups. CCI offers chamber members multiple savings levels from the BWC maximum to a lesser percentage, for companies with claims. The multiple levels of savings can possibly prevent you from losing your group rating discount once a claim occurs, simply dropping you down to a lower tier.
Even if your company is enrolled in another workers' compensation group rating program, you should compare your current program to the chamber group rating program through CCI. For more information, or for a no-cost, no-obligation quote of your potential premium savings, call 1-800-837-3200, ext. 7228, or visit www.careworksconsultants.com/groupratingapplication/Marietta.
Because group rating has a limited window for enrollment, it is important to apply immediately for the 2011-2012 plan year. The deadline to request a quote is February 23, 2011, so complete and return your application to CareWorks Consultants as soon as possible.
Over the next few editions of this Chamber Viewpoint, we'll be sharing more ways that Chamber Membership Pays! You can also call the chamber at 373-5176 for more information about membership benefits.
Happy New Year!
Charlotte Keim, CCEO-AP, is president of the Marietta Area Chamber of Commerce, The Riverview Building, 100 Front St., Suite 200, Marietta. Chamber Viewpoint appears every other Monday on Opinion.