In his Ohio Coronavirus press conference on Thursday, Governor Mike DeWine announced the Ohio Bureau of Workers’ Compensation Board of Directors will consider issuing another premium rebate to employers across the Buckeye State. The $1.5 billion dividend for policy year 2019 – which equals one hundred percent of an employer’s billed premium – will be the third workers’ compensation premium rebate issued since DeWine took office.

During the restart of Ohio’s economy, returning an employer’s paid workers’ compensation premium will aid Ohio businesses who have yet to fully re-open and will assist those companies who are struggling to make payroll or pay their rent. Likewise, Governor DeWine and the BWC Board of Director’s decision will directly benefit our state’s economy because the dividend will put more than a billion dollars in the hands of job creators who can use it to re-hire employees or grow their business.

The announcement of another one hundred percent policy rebate also signals Ohio’s workers’ compensation system remains strong despite the negative economic impact of the coronavirus. In fact, in fiscal year 2020, the Bureau’s investment returns were still above seven percent.

The strong fiscal position of the BWC – which has resulted in eight employer rebates since 2013 – is thanks in large part to employers who are investing in safety equipment and the Bureau’s investment strategies that have delivered a strong investment performance.

The Ohio Chamber is always monitoring developments at the Bureau including at the Board of Director committee meetings because we want to continue building upon the progress that has been made so Ohio’s workers’ compensation system can keep issuing premium rebates and premium reductions in the years to come.