For the third time in four years, the Ohio Bureau of Workers’ Compensation (BWC) is returning $1 billion to Ohio’s private and public employers.  The BWC provides for workers who are injured on the job to receive care.  For these services, businesses—both public and private—pay premiums each year, protecting their most important asset, their employees.


In recent years, positive investment returns, improvements in worker safety, and strong fiscal management have led to a surplus in the State Insurance Fund.  In 2013 and 2014, private employers in Richland County received $7.6 and $8.33 million and public employers in Richland County received $1.22 and $1.23 million.  In addition to these rebates, cutting rates by 28 percent for private employers and almost 30 percent for public employers and implementing a prospective billing system have saved Ohio businesses $6 billion in total since 2011.


For this year, in Richland County specifically, companies will altogether receive over $9 million in refunds. Public employers will receive approximately $1.26 million and private employers will receive approximately $8 million. This money will go back to the businesses that paid the premiums to the BWC.  Business owners in Richland County can choose to reinvest the money into their company in many different ways: hiring new employees, marketing their products or services, or improving a process that makes them more competitive.


I applaud the BWC for making the right move for Ohio companies in returning these funds to our communities and businesses. I know this money will benefit Richland County and the rest of the state, and I support any effort to make Ohio companies more competitive.

 
 
 
  
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