At its meeting today, the board of the Ohio Bureau of Workers’ Compensation (BWC) is voting a proposed 20% reduction in the average premium rate charged to private employers. It would be the largest rate cut in nearly 60 years.
Fewer workplace injuries and falling estimates of future medical costs are credited with the proposed rate reduction.
If approved, the rate reduction would be effective July 1 and is projected to save private employers $244 million over premiums for fiscal year 2019. 2/21/2019