Columbus, OH – Ohio’s public employers will pay nearly $8 million less in premiums next year to the Ohio Bureau of Workers’ Compensation (BWC) thanks to a rate cut that will go into effect Jan. 1, 2024.
This 3.9% rate reduction was made possible by declining injury claims and relatively low medical inflation costs by Ohio’s counties, cities, public schools, and other public taxing districts.
“I applaud Ohio’s employers for their dedication to workplace safety,” said Governor Mike DeWine. “This commitment allows us to continue reducing rates for employers so that they can invest these savings back into their employees and workplaces.”
Approved by BWC’s Board of Directors at this month’s board meeting, the reduction improves the already historically low rates for Ohio’s employers. Overall, the average rate levels for the 257,000 private and public Ohio employers in the BWC system are at their lowest in over 60 years.
“We are always looking for ways to save Ohio’s employers money,” Administrator Logue said. “Thanks to organizations’ improvements in workplace safety, we are able to continue dropping rates for both private and public employers.”
The reduction represents a statewide average. The actual premium change for an individual public entity will differ based on multiple factors, including employer type or classification, payroll levels, recent claims history, and their participation in various BWC programs.
A history of BWC rate changes since 2011 can be found here (PDF).
Source: Ohio BWC