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Ohio SI-40 Change 2012

posted Jan 5, 2011, 5:30 AM by Compensate Admin   [ updated Jan 23, 2013, 12:07 PM ]
For the year 2012 Ohio has added the requirement to submit a check register of all indemnity transaction made within the year.  The Indemnity Check Register on the Reports --> Transactions menu will generate a .pdf or .xls file that can be used to submit this information to the state.  The instructions on where to send the files are included in the attached document below "SI-40 Backup Report.pdf".

For the year 2010 Ohio has added the requirement to report reserves for open claims.  This new requirement replaces the reserves report that was requested by the BWC in 2009.   The new requested information is pictured below and the full .PDF form is attached.
Claims that have been paid or are reserved for indemnity are included in the totals for "Total outstanding case reserves or Indemnity claims" and the associated claim count.  This has nothing to do with the claim status flags ("MO", "LT", etc...) and is solely based on values in the claim as of the end of the reporting period.  All other claims are included in the values for "Medical-Only" claims.

Here are some comments from the BWC on the SI-40 changes.

This email is being sent to you as a reminder of the SI-40 Report of Paid Compensation annual filing is due no later than February 28, 2011.  Please see the attachments for instructions on how to report and file the SI-40.  

Please note that the online SI-40 form contains instructions that are not accurate as it relates to reserve reporting.  The online form indicates that you are to report all case-reserve data without capping these costs at the excess insurance point.  These instructions are not correct.  You should report all case-reserve data not covered by excess insurance.  Outstanding reserves should include the remaining costs of a claim only up to the point any excess insurance attaches.

If you have already submitted the SI-40 report and did not report reserve data appropriately, you have the ability to amend this information.

Note - As of 2/2/2011 how Compensate determines the number of open claims for the SI-40 has changed.  Prior to 2/2/2011 the SI-40 Summary would report the number of claims that were open as of the end of the period.  These claims did not have to have a reserve to be included in the claim counts they just had to have an open status in the system.  After 2/2/2011 the claim count numbers have been revised to include only the number of claims that actually contributed to the "Total outstanding case reserves" values asked for on the SI-40.
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Compensate Admin,
Jan 23, 2013, 12:04 PM
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Compensate Admin,
Jan 23, 2013, 12:04 PM
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SI-40.pdf
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Compensate Admin,
Jan 5, 2011, 5:40 AM
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Compensate Admin,
Jan 17, 2011, 6:05 AM
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