BWC To Refund Over One Billion Dollars To Businesses
The Ohio Bureau of Workers' Compensation wants to return more than 1 billion dollars of its investment earnings to private and public employers. Ohio Public Radio's Andy Chow reports.
More than 200,000 employers might get rebates from the Ohio Bureau of Workers’ Compensation, totaling more than $1 billion.
According to the bureau, most rebates will be about 66% of what the employer paid in workers’ comp premiums last year.
Republican Senate President Larry Obhof of Medina believes this rebate on top of declining workers’ comp costs are making the state more attractive to businesses.
Obhof: “It should be a big boost for the year for Ohio’s employers and this is just the latest step in our move toward making Ohio the most business-friendly state in the country.”
As for now this is just a proposal being made the BWC board, but this kind of rebate was approved in the past with lots of support.