Workers’ Compensation Rates Drop for Public Employers
COLUMBUS, Ohio – The state’s public employers will pay nearly $8 million less in workers’ compensation insurance premiums to the Ohio Bureau of Workers’ Compensation.
This 3.9% rate reduction, which went into effect Jan. 1, is due to declining injury claims and relatively low medical inflation costs by Ohio’s counties, cities, public schools and other public taxing districts, a news release states.
“Ohio’s employers continue to prioritize workplace safety,” Gov. Mike DeWine said. “These efforts are what allow us to continue to reduce rates and save employers money that they can invest back into their workforce.”
The reduction represents a statewide average. The actual premium change for an individual public entity will differ based on multiple factors, including employer type or classification, payroll levels, recent claims history and their participation in various BWC programs.
“We continue to do everything we can to help our customers succeed,” said John Logue, administrator and CEO of the Ohio Bureau of Workers’ Compensation. “These reductions show the effort and work that employers are putting into workplace safety.”
Published by The Business Journal, Youngstown, Ohio.