Governor Kasich announced that he wants to provide $1 billion in workers’ compensation premium rebates to Ohio employers. The proposed rebate is attributed to the Ohio Bureau of Workers’ Compensation’s (“BWC”) organizational changes and fund investment success. If approved by the BWC’s board of directors, checks could go out as early as June.
Governor Kasich also announced that he would like to increase the BWC’s Safety Grant Program spending from $5 million to $15 million dollars a year. He would also like to change Ohio’s workers’ compensation premium payment structure from a retrospective payment structure to prospective payment structure. In other words, instead of employers paying premiums for the previous six months, employers would be paying for the upcoming policy period. This is estimated to save Ohio employers two to four percent on workers’ compensation premiums.
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