COLUMBUS—State Representative Bill Seitz (R-Cincinnati) today announced that the summer of 2018 brought with it another massive boost to public and private employers. That boost once again came from the Ohio Bureau of Workers’ Compensation.
For the fourth time since 2013, the agency is again sending a 9-figure rebate to Ohio’s private and public employers, thanks to wise investments, smart business decisions and falling claims numbers. This year’s rebate is $1.5 billion, and the BWC’s largest in 20 years.
This latest rebate brings the total the BWC has saved employers since 2011 to $8 billion. That $8 billion returned to Ohio’s economy has a real impact in communities across the state and in Hamilton County, which is in line for $72.08 million in rebates this year alone. That’s $64.73 million going back to the county’s private businesses and $7.35 million to its public employers, including local governments and schools, this summer.
“Those who make a career carping about state budget cuts to the Local Government Fund conveniently overlook that these massive rebates to public employers—such as counties, cities, townships, and school districts—go a long way towards offsetting these cuts, enabling these taxing districts to reduce the cost of delivering public services,” said Majority Leader Seitz. “During my service in the state legislature, we have passed numerous laws that enabled the BWC to run more efficiently and cut costs to all employers, public and private,” he added.
Many eligible employers have already received their checks, which equal 85 percent of their premium for the policy year ending in June 30, 2017 (calendar year 2016 for public employers). Others that participate in the Group Retrospective Program will see checks in October. Please check your mail again and then contact BWC if you did not receive your check.
While outstanding investment returns and responsible leadership at BWC account for some of the agency’s successes, Ohio employers and workers also deserve credit. They are heeding BWC’s charge to operate safe workplaces. Injury claims are falling—there were approximately 86,000 new claims allowed in fiscal year 2017, down from 104,000 in 2010.
BWC’s goal is to become a world-class workers’ compensation carrier. They are making impressive progress we can all appreciate. Efficient operations, billions returned to Ohio employers and effective safety programs are a winning combination for Hamilton County and the entire state.