Record Setting $5 Billion BWC Rebate Announced by Gov. DeWine

In an unanticipated move, Governor Mike DeWine and Lt. Governor Husted, announced today their plan to issue a third BWC dividend in 2020 – this one totaling a record breaking $5 billion.

Gov. DeWine’s plan will help Ohio employers and move the Buckeye State’s economy forward during its economic recovery from the coronavirus by infusing much needed cash into the hands of business owners who are facing lower revenues and higher operating costs due to the pandemic. This dividend will also make Ohio’s workplaces, restaurants and hotels safer because companies can use it to purchase PPE, buy sanitary products and invest in safety equipment designed to stop the spread of COVID-19.

Moreover, despite the issuance three different rebates of at least one billion dollars in the last six months, the Bureau has maintained an actuarially sound portfolio of employer dollars with a net position of approximately $6 billion dollars even after the latest rebate is taken into account.

The Ohio Chamber commends the BWC for their prudent stewardship of the state insurance fund and their desire to make Ohio’s workers’ compensation system a reason for businesses to come to the Buckeye State. We look forward to our continued work with the Bureau and the DeWine Administration as we all strive towards making Ohio’s business climate more welcoming.