Workers’ Comp Rates Drop 20% on Average

The Ohio Bureau of Workers’ Compensation (BWC) reports that a 20% reduction in the average premium rate collected from private employers went into effect July 1. This is the BWC’s largest rate reduction in nearly 60 years, and is estimated to save private employers $244 million in FY 2020. The rate relief is attributed to safer workplaces, as well as the continued lower inflation of medical costs. 7/31/2019