Ohio presently ranks as the fifth largest worker's compensation insurer when compared to every worker's compensation insurer (private and public) throughout the nation. Ohio is the largest state fund, representing approximately $2.1 billion in liquid assets. This $2.1 billion fund represents a substantial financial and political issue within the State of Ohio.
Presently, a proposal to privatize a portion or all of the Ohio worker's compensation system is under review by both a task force and some Ohio legislators. Under the proposed privatization, Ohio would open worker's compensation insurance opportunities to private companies, in contrast to the existing state run monopolistic system established under Ohio's constitution. Advocates for privatization suggest that it would increase competition thereby lowering the cost of worker's compensation insurance to Ohio's employers and stimulating Ohio's economy.