BWC Board Votes to Reduce Premiums (Again)

ICYMI, the Ohio Bureau of Workers’ Compensation (BWC) board has approved a net 7.1% reduction in private employer rates and assessments. As a result, employers will pay $71.5 million less in premiums next policy year, which begins July 1. (The actual premium paid by individual employers depends on several factors, including the expected future claims costs in their industry, recent claims, and participation in various BWC programs.) This marks the fourth consecutive rate reduction for private employers since 2018 and the twelfth since 2008. 3/1/2021