Ohio Bureau of Workers' Compensation Expected to Give $1 Billion Back to Businesses

Mar 13, 2017

The Ohio Bureau of Workers' Compensation reported $4.8 billion in combined savings from reduced rates, rebates, credits, and grants in its 2016 report.

Many businesses around the state could soon be getting a big rebate from the Ohio Bureau of Workers’ Compensation.

More than 200,000 employers might get rebates from the BWC totaling more than $1 billion. According to the bureau, most rebates will be about 66 percent of what the employer paid in workers’ compensation premiums last year.

Republican Senate President Larry Obhof of Medina believes this rebate on top of declining workers’ compensation  costs are making the state more attractive to businesses.

“It should be a big boost for the year for Ohio’s employers and this is just the latest step in our move toward making Ohio the most business-friendly state in the country," Obhof said.

As of now, this is just a proposal from the workers' comp board, but this kind of rebate has been approved in the past with lots of support.