COLUMBUS—State Senator Joe Uecker (R-Miami Township) applauded the recent announcement by the Ohio Bureau of Workers' Compensation (BWC) of a one-time rebate of approximately $1.5 billion to Ohio employers. The rebate surpasses last year's benchmark by 50 percent, and is the fourth such rebate in the last five years.
"This news is very positive for thousands of Ohioans, including businesses and public employers such as local governments," said Uecker. "I commend their good work, and it is important that the Bureau continues to focus on fiscal responsibility and the health and safety of hardworking Ohioans, which ultimately results in dollars that can be reinvested into more jobs and growing businesses."
Private employers and public employer taxing districts that pay into the State Insurance Fund are eligible for the rebate. Rebates are expected to equal 85 percent of the employer's premium for the policy year ending June 30, 2017.
The BWC Board of Directors will review the proposal in the coming weeks, and is expected to vote on May 24 to approve the plan. An estimated $48 million of the total rebate will go to schools and $111 million to local governments.
Ohio's workers' compensation rates have gone from 3rd highest in the nation in 2008 to the 11th lowest, according to the Oregon Study, a nationally recognized benchmark of rates.
For more information on the approved rebate, click here.