COLUMBUS—State Senator Gayle Manning
(R-North Ridgeville) applauded the recent announcement by the Ohio Bureau of Workers' Compensation (BWC) of a one-time rebate of approximately $1.5 billion to Ohio's private employers and public-taxing districts.
This will be the fourth such rebate in the last five years. It is 50 percent larger than last year's rebate and is the largest in 20 years.
Prudent fiscal management and a focus on worker safety and wellness has enabled BWC to continue to grow and see strong investment returns, making this rebate possible. Ohio has reduced rates to 30-year lows and delivered more than $4 billion in rebates and credits to Ohio employers since 2011. The bureau has also improved programs designed to reduce workplace injuries and has focused more on helping injured Ohioans receive the care they need to return to work.
"Returning these dollars to Ohio's employers to reinvest in their workforce is the right decision," said Senator Manning. "Smart enhancements in worker safety and sound financial management have made this fourth major rebate possible."
To become effective, the rebate will first be proposed today to the BWC Board of Directors for review, with an expected vote on May 24. If approved, BWC expects to send checks in July and August 2018. Most rebates are expected to equal 85 percent of an employer's premium for the policy year ending June 30, 2017 (calendar year 2016 for public employers). An estimated $48 million of the total rebate will go to schools and $111 million to local governments.
The bureau has also improved programs designed to reduce workplace injuries and has focused more on helping injured Ohioans receive the care they need to return to work.
Ohio's workers' compensation rates have gone from 3rd highest in the nation in 2008 to 11th lowest, according to the Oregon Study, a nationally recognized benchmark of rates.
For more information on the approved rebate, click here