Listen

BWC To Rebate 1.5 Billion In Premiums

May 21, 2019

The Ohio Bureau of Workers' Compensation plans to give 1.5 billion dollar in rebates on premiums paid by 200 thousand employers. 

Ohio Public Radio's Andy Chow reports. 

The employers set to receive rebates include private businesses as well as local governments and school districts.

The $1.5 billion amounts to about 88 percent of employer premiums.

 

As Governor Mike DeWine puts it, this becomes a near refund.

 

DeWine: “The reason they can get a refund is because the BWC has done a good job in investing and this money is going to come directly back to companies. And for all of Ohioans it’s good news because when companies get this kind of money, this infusion of money they can create more jobs.”

 

The BWC has also approved a 20 percent cut in premiums, the largest reduction in 60 years.

 

DeWine attributes the savings and rate cuts to BWC safety programs.