Columbus, OH – School districts, cities and other Ohio local government employers could see a 6.1 percent reduction in their workers’ compensation premiums beginning Jan. 1.
Ohio Bureau of Workers’ Compensation (BWC) Administrator/CEO Sarah Morrison recently asked BWC’s Board of Directors to grant the reduction for Ohio’s 3,700 public entities covered by BWC.
“This rate cut demonstrates our commitment to maintaining low rates for public employers and the communities they serve,” said Morrison. “A number of factors make the reduction possible, including declining claims and a favorable forecast for future average claim costs.”
The board discussed the proposal during its recent actuarial committee meeting. If it approves the reduction at its Sept. 28 meeting, public employers will pay $11.8 million less in premiums than in 2017. The cut would also bring the total decrease to local government rates since the start of 2011 to 33.9 percent for a combined statewide financial impact of $434 million. BWC also delivered more than $135 million in “Third Billion Back” rebate checks to these employers last month.
The decrease represents a reduction to the statewide average of the collectible rates for public employer taxing districts. Actual premium changes for individual public entities will differ based on several factors, including their manual classification, recent claims history and program participation.
Source: Ohio BWC