BWC Rebates Position Ohio for a Brighter Future
By State Rep. Steven Arndt
Ohio’s workers are essential to the growth of our economy. Since its inception, the Ohio Bureau of Workers’ Compensation has been helping private and public employers protect their employees in the workplace. The premiums paid by these employers go towards offering important safety services and resources in cases of job-related injuries.
The BWC announced this year that it will be refunding $1.5 billion to Ohio’s businesses and employers, its fourth rebate since 2013. This latest rebate brings the total that BWC has saved employers since 2011 to $8 billion, which has a real impact on Ohio’s economy across communities.
The BWC is able to make these returns because of safer work environments that have resulted in a reduction in insurance claims, investment returns which have yielded higher numbers than expected, and responsible fiscal management combined with a strong economy. Many eligible employers have already received their checks, which equal 85 percent of their premium for the policy year ending June 30, 2017 (calendar year 2016 for public employers). Make sure to check your mail again and then contact BWC if you did not receive your check.
For the 89th House District, private and public employers in Ottawa County will receive more than $2.5 million and those in Erie County will receive more than $5.5 million. Businesses in these counties can use these additional resources to continue growing their operations and help bolster our state’s economy at large.
This move by BWC is not only welcome news to employers, but it is good, responsible policy. Considering its financial strength, BWC’s position to give back to public and private employers will ultimately benefit the state as a whole, giving businesses back their earnings spent on premiums and creating greater job security for Ohioans.