Many employers refuse to settle workers’ compensation claims while the claim is in their experience rating period. That rating period for most state fund employers is 5 years. After the 5 year period, any settlement, no matter what the amount, is not charged to the employer’s risk. How do you calculate the end of the 5 year period?
As an example, you are injured October 4, 2004. The 5 year period includes 2004. Therefore, the 5 year risk period expires on 12/31/08. On 1/1/09, the employer is clear of any monetary obligation towards that claim.
If you are interested in settling your Ohio BWC claim, give us a call. We would like to discuss and review your claim to determine if you should settle or if there are more advantageous alternatives for you to pursue.