BWC proposes largest refund in 20 years
On April 24, 2018, the Ohio Bureau of Workers’ Compensation (BWC) proposed a $1.5 billion premium rebate for state-funded employers. If the BWC board of directors approves the rebate next month, employers could receive their rebates this summer.
“We’ve had healthy income and returns on our investment portfolio, and it’s only right to share that success with our private and public employers,” said Sarah Morrison, the BWC’s administrator and CEO, in a statement during an event at the Land-Grant Brewing Company with Governor John Kasich in attendance. “We know that the more money we leave with employers, the more they can invest in their employees and grow their business.”
Of the $1.5 billion, $48 million would go to schools, $111 million would go to local government entities and the remaining would go to private employers. If the rebate is approved, the BWC will have expanded savings for Ohio employers to $8 billion in the past seven years.Download PDF