Ohio Bureau of Workers’ Compensation Announces Rate Reduction

Ohio Bureau of Workers’ Compensation Announces 6% Rate Reduction

The Ohio Bureau of Workers’ Compensation (BWC) has unveiled a 6% reduction in rates for private employers, which will be implemented starting July 1. This decision, approved by the BWC board of directors on Friday, comes on the heels of a 7% rate cut that was granted last year.

Over the past 17 years, private employers in Ohio have benefited from a total of 16 rate reductions. Currently, the average rates for the combined 258,000 private and public employers across the state are at their lowest point in six decades.

It’s important to note that the 6% rate cut represents an average figure. The actual change in premiums for individual employers will vary based on several factors, including the type of employer, classification, payroll levels, claims experience, and participation in various safety programs.