Section 4123-17-44 - Minimum retrospective premium(A) The minimum annual premium due shall not be less than the minimum experiencerated premium threshold times the minimum premium percentage for the employer's hazard group, claim limit, and maximum premium percentage for the applicable policy year. The premium will be subject to the premium sized adjustment described in rule 4123-17-03.3 of the Administrative Code.(B) If estimated experience-rated premium is greater than or equal to the minimum experience-rated premium threshold listed on the employer's retrospective rating minimum premium percentages table, contained in the appendices to rule 4123-17-53 of the Administrative Code, 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.Ohio Admin. Code 4123-17-44
Effective: 6/12/2021
Promulgated Under: 111.15
Statutory Authority: 4121.12, 4121.121, 4121.13, 4121.30
Rule Amplifies: 4123.29, 4123.34
Prior Effective Dates: 07/01/1988, 10/02/1990, 09/04/2014, 07/01/2019