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Ohio employers get $1 billion in workers’ compensation rebates

On Behalf of | Aug 2, 2017 | Workers' Compensation

The Ohio Bureau of Workers’ Compensation (BWC) is returning more than $1 billion to 200,000 employers who paid premiums to help improve safety and reduce workplace injuries. An estimated $967 million is slated for private employers and $133 million to public employers in tax districts.

Counties receiving the largest amounts are Cuyahoga County, receiving $121.5 million, Summit County, $50.4 million and Stark County, $33.5 million. The president and CEO of the Akron-Canton Regional Foodbank and the Vice President of the Greater Akron Chamber accepted the BWC’s $269 million ceremonial check for Northeast Ohio employers. The food bank received a $33,614 rebate check, which the president says will make a significant positive impact on the 263,000 people the food bank serves.

This is the third time in four years that the BWC will return over $1 billion to Ohio employers. The Bureau attributes its net position of more than $9 billion to improved safety, fiscal management and investment returns. BWC estimates that it has helped to return more than $6 million to Ohio’s economy. Most employers will receive a rebate equal to 66 percent of their premiums for the year ending June 30, 2016.

BWC is also investing $44 million to improve workplace wellness and safety over the next two years. It has established a wellness program, funding for firefighters and those who work with the disabled and an education campaign to address home and workplace injuries. BWC’s hope is that these multiple investments will promote a culture of safety in workplaces and reduce the number of annual workers’ compensation claims.

Source: Akron Beacon Journal, “State issues $269 million in workers’ compensation rebates to Northeast Ohio employers,” July 25, 2017