Are you Self Insured?
CSI can administer your current program or assist in transitioning to self-insurance.
Compensation Solutions Inc. partners with self-insured employers providing the experience and means to administer a successful Self-Insured Workers' Compensation Program in Ohio. Our claims management and cost control approach will yield results that impact your bottom line.
Is Self Insurance an option for your business?
CSI can provide your business with a detailed study, at no charge, to determine if a Self Insurance program is right for your business.
Qualifications to Become a Self-Insuring Employer
To receive the privilege of self-insurance, you must meet several requirements.
- A minimum of 500 employees in Ohio.
- Two years of experience with the state insurance fund.
- Operate a BWC-certified Qualified Health Plan (QHP) or Medical Management Plan.
- Demonstrate strong financial stability.
- The ability to administer workers’ compensation insurance.
- Maintain an account with a financial institution in Ohio or draw compensation checks from the same account as the payroll checks.
To become a self-insuring employer, complete an application and submit it to BWC.
The application must include the following.
- All financial records, documents, and data necessary to provide a full financial disclosure (as audited by a certified public accountant).
- Balance sheet and a profit and loss statement for the current year and the previous four years.
- Organizational plan for claims processing;
- The proposed plan to inform employees of the change from the state fund to self-insured, including procedures employees must follow when filing for compensation and benefits.
The Self-Insured Review Panel hears requests for self-insurance. CSI will administer all aspects of your program in conjunction with your business if approved.
Get Help with Self-Insured Solutions
CSI will help guide you through the entire self-insurance process. From applying to managing SI claims and disputes, our friendly staff is here to help.