Today’s issue of WorkCompRecap features the Ohio BWC’s recent announcement that it has asked its board of directors for a double-digit reduction in private employer premium rates (12%) beginning July 1.
If approved, the reduction would save private employers $163.5 million over this year’s premiums, which are already at their lowest rates in at least 40 years. The BWC noted that it experienced 86,290 allowed claims in 2017, nearly 18% down from 2011, and the lowest number of claims dating back to at least 1997, when there were more than 277,000 claims. BWC attributed the declining numbers to several factors, including its efforts to promote safe and healthy workplaces, increased safety funding and more employers putting safety education and resources to work. The BWC’s private employer rates have decreased or remained unchanged every year since 2007, with the last reduction occurring in 2016.
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