4123-17-44 Minimum retrospective premium.

(A) The minimum annual premium due shall not be less than the minimum experience-rated premium threshold times the minimum premium percentage for the employer's hazard group, claim limit, and maximum premium percentage for the applicable policy year .

(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 minimum premium due is the minimum experience-rated premium threshold times the minimum premium percentage for the employer's hazard group, claim limit, and maximum premium percentage .

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

(D) The minimum premium will be recalculated at the time the employer submits actual payroll pursuant to rule 4123-17-14 of the Administrative Code.

Effective: 09/04/2014
Promulgated Under: 111.15
Statutory Authority: 4121.121 , 4121.13 , 4121.30
Rule Amplifies: 4123.29 , 4123.34
Prior Effective Dates: 7/1/88; 10/2/90