On July 1, a 7.1% rate reduction for Ohio Bureau of Workers’ Compensation (BWC) premiums took effect. According to the BWC, private employers will pay nearly $72 million less in premiums this fiscal year due to the reduction, approved by the BWC board back in February.
Keep in mind that the 7.1% rate cut represents a statewide average reduction to premiums. The actual premium paid by individual private employers depends on multiple factors. 7/5/2021