Ohio employers pay, on average, the 16th lowest workers’ compensation premium rates in the nation. That’s according to a recent study by the Oregon Department of Consumer and Business Services, which compared the workers’ comp premium rates of all 50 states and the District of Columbia.
Over the years, the OMA has worked hard to advocate for more competitive workers’ comp costs. As of 2018, Ohio’s index rate of $1.40 per $100 of payroll was 82% of the national median, according to the Oregon study. Meanwhile, New York had the most expensive index rate at $3.08 per $100 of payroll, while North Dakota was least expensive at $0.82.
As a reminder, the OMA is Ohio’s only workers’ compensation third-party administrator that exclusively serves manufacturers. If your company is not already using OMA Workers’ Compensation Services, check us out and see how the OMA can simplify your workers’ comp responsibilities. 5/15/2019