Substitute House Bill 493 - Workers' Compensation Law Changes

• Modifies Ohio's workers' compensation premium payment system from semiannual to annual payments for private employers beginning July 1, 2015, and adjusts payment schedules for public employers starting January 1, 2016

• Establishes prospective payment system requiring employers to submit estimated payrolls upfront and reconcile with actual payrolls, replacing the previous security deposit model

• Creates new summary suspension procedures allowing the Bureau of Workers' Compensation to immediately suspend provider certifications in the health partnership program without prior hearing under specific circumstances, including license suspension or criminal convictions related to healthcare delivery

• Changes actuarial review requirements from annual audits to annual actuarial analysis and modifies investment committee oversight of workers' compensation fund management

• Updates definitions and procedures related to other-states' coverage and limited other-states' coverage for employers with employees in multiple states, and requires managed care organizations to establish data security agreements with the state pharmacy board for drug database access