The Ohio Bureau of Workers’ Compensation (BWC) announced that it will be issuing rebates again this year to private employers and public-taxing districts, who are up-to-date on their premiums. This is the fifth time, since 2013, that the agency has returned at least $1 billion to employers.
The rebates are the result of strong investment returns coupled with falling injury claims and “other operational efficiencies.” When investment returns are strong, the BWC share a portion of the investment with employers. The $1.5 billion that is being returned to employers represents about 88% of the premiums that were paid for the policy year that ended June 30, 2018.
Private companies are getting most of the rebated money. BWC also said that $114 million will go to counties, cities and townships and almost $50 million will go to public school districts.