The Bureau of Workers’ Compensation (BWC) reports that Ohio’s workers’ compensation rates continue to improve in rankings among states. Based on a biennial study that compares national workers’ compensation rates, the BWC reported: “The state’s rates improved from 33rd in 2014 to 40th, making Ohio the 11th lowest among all states.”
The “Oregon Study” ranks states from most expensive to least expensive. Ohio has continually improved since its rates were ranked third highest in the nation in 2008.
The Oregon Study, produced by the Oregon Department of Consumer & Business Services, compares each state’s base rates across a selection of 50 widely used classification codes that are assigned by occupation to indicate their degree of risk.
Since the study was conducted, BWC reduced average rates for private employers another 8.6 percent. Further, the study does not account for the various money-saving BWC programs. When the base rate reductions and rebate programs are factored in, the actual amount collected by BWC averages $1.22 per $100 of payroll compared to the $1.45 rate reflected in the study. The national median rate is $1.84. 10/20/2016