Additional $1B Rebate to Employers Approved by Ohio BWC Board Approves

Ohio employers will receive another $1 billion rebate and workers will benefit from a major new investment in worker safety research and training, according to the Ohio Bureau of Workers’ Compensation (BWC).

The BWC’s board has approved “Another Billion Back,” proposed by Governor John Kasich in August, which includes the $1 billion rebate to 3,800 local governments and approximately 184,000 private sector employers, as well as several new programs targeting workplace safety.

The board also approved additional investments in safety intervention grants to enhance the safety, health and wellness of Ohio’s workforce, including funding for firefighter safety training.

BWC will begin issuing checks in October to employers that have current mailing addresses on file with the agency. The rebates will equal 60 percent of premiums eligible employers paid during the July 1, 2012, through June 30, 2013, policy year (calendar year 2012 for public employers).

The rebate, like last year’s, is possible because of sound fiscal management that led to strong investment returns. BWC’s annualized return of investments was 8.9 percent over the last three fiscal years, including 13.3 percent in 2014, the agency said.

Source: Ohio BWC