Ohio BWC Board to Meet Today, What You Need to Know

The Board of the Ohio Bureau of Workers’ Compensation (BWC) is set to meet later today. The agenda includes:

• Sunsetting the “Lapse Free” rebate program effective 7/1/2024. This automatic 2% rebate was paid to employers who submitted timely premium installment payments.
• Sunsetting of the Transitional Work Performance Bonus effective 7/1/2025. The program, compatible with Group Experience Rating, awarded employers up to 10% of premium rebates for returning injured employees back to light duty work. The program rebate percentage will decrease for the 7/1/2024 policy year.
• Sunsetting the Grow Ohio program effective 7/1/2024. Grow Ohio was established in 2011 to entice more employers to open business in Ohio. New companies were provided either a spot in a Group Experience program outside of the enrollment period, or an automatic 25% discount on premiums

Additionally, the BWC has started issuing 2024 (7/1/2024-6/30/2025) coverage certificates and installment plans. Employers are recommended to review the estimated payroll set by the BWC to ensure accurate premiums are being paid. This will also be employers’ first look at the BWC’s new premium calculation which combines the state base rate with the BWC administrative costs.

The BWC is also still reviewing self insured assessment rates for the upcoming policy year, but based on actuarial recommendations an adjustment will be made that will have no impact on the overall cost. 4/26/2024