4123-17-44 Minimum premium.

(A) The minimum annual premium due the fund shall not be less than the minimum experience-rated premium threshold times the appropriate minimum premium percentage for the hazard group and the claim limit/maximum premium percentage selected for the specified policy year under review.

(B) If estimated experience-rated premium is greater than or equal to the minimum experience-rated premium threshold listed on the "Retrospective Rating Minimum Premium Percentages Table" but actual experience-rated premium is less than the minimum experience-rated premium threshold listed, the employer remains retrospective-rated. The minimum premium due would be the minimum experience-rated premium threshold times the appropriate minimum premium percentage for the hazard group and the claim limit/maximum premium percentage selected.

(C) The minimum annual premium is due and payable even if the employer has no claims costs during the evaluation period for the specified policy year under review.

(D) The minimum premium will not be prorated. The minimum annual premium is due and payable if the employer has elected to be retrospective-rated, the employer has been approved for retrospective rating by the Ohio bureau of workers' compensation, and the filing deadline has expired.

Replaces rule 4121-7-44; Eff 7-1-88; 10-2-90
Rule promulgated under: RC 111.15
Rule authorized by: RC 4121.121 , 4121.13 , 4121.30
Rule amplifies: RC 4123.29 , 4123.34