Today’s issue of WorkCompRecap features the Ohio BWC’s recent announcement that it has proposed another $1 billion rebate for Ohio’s private and public employers, making it the third such rebate since 2013.
If approved by BWC’s Board of Directors, the proposed rebate, along with previous rebates, credits and rate reductions, would total $6.3 billion the agency has saved Ohio employers in workers’ compensation costs since the start of 2011. BWC Administrator/CEO Sarah Morrison noted that strong fiscal management and better-than-expected investment returns have increased the net position of the State Insurance Fund to $9.6 billion, making the rebate possible. If the rebate is approved, more than 200,000 eligible private and public employers would receive a rebate equal to 66% of their premiums for the policy year that ended June 30, 2016.
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