Today’s issue of WorkCompRecap features the Ohio BWC’s recent announcement that their Board unanimously approved a proposal from Governor John R. Kasich to leverage the BWC’s strong financial position by returning $1 billion to 210,000 Ohio employers.
The entire rebate proposal totals $1.9 billion and also calls for the tripling of the BWC’s Safety Grant Program from $5 to $15 million, and the modernization of premium collection by switching to a prospective-payment system. The board also separately approved a 2.1% average reduction in base rates for private employers that brings their three year premium savings to an estimated $224 million. Find out more by clicking here!