Big Day for Ohio Businesses as BWC Approves $1 Billion Rebate and a Premium Rate Reduction

A Human Resources E-Alert

On May 30, 2013, the Ohio Bureau of Workers’ Compensation (BWC) Board of Directors unanimously approved: (1) $1 billion in workers’ compensation rebates for public and private employers; and (2) a 2.1 percent premium base-rate reduction for private employers. Employers can expect their rebates to be approximately 56 percent of last year's premiums. The rebate checks may be mailed as soon as late June or early July. The base-rate reduction for private employers will take effect July 1, 2013, but the BWC will not set public employers’ rates until the fall.

For more information, read the complete BWC press release and this article in Columbus Business First.