The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors approved a request from Gov. Mike DeWine to distribute $1.6 billion to state businesses in response to economic disruption from the COVID-19 outbreak.
The BWC board held a virtual emergency session, Friday, April 10, and voted to permit the remittal of dividends equal to nearly 100% of premium amounts Ohio employers paid in the 2018 policy year.
Of the estimated $1.6 billion in refunds, approximately $1.4 billion will be returned to private employers and approximately $200 million to local government, including counties, cities, townships and schools.
“We are all in this together, and I’m just grateful we can contribute in this way,” said Stephanie McCloud, BWC administrator and CEO. “We wouldn’t be in this position without the employers who work hard to increase workplace safety, reduce injury claims and pay their premiums on time.”
This dividend is the sixth $1 billion or more the BWC has refunded and the seventh since 2013.
Click here to see FAQs from the BWC regarding COVID-19.
