On Friday, the board of directors for the Ohio Bureau of Workers’ Compensation (BWC) approved $1.5 billion in rebates for approximately 180,000 private and public employers across the state. Employers should receive their rebate checks sometime this fall.
This latest rebate, proposed by Gov. Mike DeWine in May, represents roughly 88% of the premiums employers paid for the policy year that ended June 30, 2018. It marks the fifth time in the last six years that the system has returned at least $1 billion to employers due to favorable investment returns, fewer injury claims, and operational efficiencies.
“In total, BWC has saved employers nearly $10 billion in workers’ comp costs through dividends, credits, rate reductions and greater efficiencies since 2011,” according to the agency’s news release. 7/1/2019