COLUMBUS — Ohio’s public employers will pay nearly $17 million less in workers’ compensation insurance premiums next year to the Ohio Bureau of Workers’ Compensation (BWC) thanks to a rate cut that went into effect Jan. 1.
This 10 percent rate reduction was made possible by declining injury claims and relatively low medical inflation costs by Ohio’s counties, cities, public schools, and other public taxing districts.
“I applaud Ohio’s employers who continue to adopt a culture of workplace safety, which helps to allow for continued rate reductions,” said Governor Mike DeWine. “By lowering premiums, our public employers can take this $17 million in savings and invest in their employees and workplaces.”
This rate reduction marks the 13th rate cut for public employers since 2009. There have also been 11 rate reductions since 2008 for private employers.
“The Governor has asked us to do everything we can to help our customers succeed,” Administrator/CEO Stephanie McCloud said. “These rate cuts are a result of public employers continuing to work hard on reducing injuries.”
The reduction represents a statewide average. The actual premium change for an individual public entity will differ based on multiple factors, including employer type or classification, payroll levels, recent claims history, and their participation in various BWC programs.