Another Workers’ Comp Premium Cut for Ohio Employers?

The Ohio Bureau of Workers’ Compensation (BWC) has announced it’s proposing another rate cut to premiums paid by private employers. This one would be worth about $132 million — if OK’d by the BWC board on Feb. 28. It would reduce private employers’ rates by an average of 13% and take effect July 1. It would also mark the third cut in three years for private employers and the 11th since 2008.

This is a good thing for Ohio employers, as the drive toward actuarial principles has resulted in a competitive advantage for Ohio’s state-run monopoly workers’ comp system. 2/3/2020