Guest Column: Workers' Compensation Rebates an Economic Boost to Warren County

The summer of 2018 brought with it another massive boost to Ohio’s economy, coming once again from the Ohio Bureau of Workers' Compensation. For the fourth time since 2013, the agency is again sending a 9-figure rebate to Ohio’s private and public employers, thanks to wise investments, smart business decisions and falling claims numbers. This year’s rebate is $1.5 billion and the BWC’s largest in 20 years. 

This latest rebate brings the total BWC has saved employers since 2011 to $8 billion. That $8 billion returned to Ohio’s economy has a real impact on communities across the state and right here in Warren County, which is in line for more than $12.8 million in rebates this year. That’s approximately $11.3 million going back to our businesses and $1.5 million to our public employers, including local governments and schools, this summer. 

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). Others that participate in the Group Retrospective Program will see checks in October. Please check your mail again and then contact BWC if you did not receive your check. 

While outstanding investment returns and responsible leadership at BWC account for some of the agency’s successes, Ohio employers and workers also deserve credit. They are heeding BWC’s charge to operate safe workplaces. Injury claims are falling—there were approximately 86,000 new claims allowed in fiscal year 2017, down from 104,000 in 2010. 

Every Ohioan has a stake in safe workplaces. We all want our families, friends and neighbors to return home safely every night. BWC can help employers and workers do just that with an impressive offering of nationally recognized safety programs and services that can protect workers, reduce claims and lower rates. I encourage employers to inquire with BWC’s safety professionals. They can offer safety advice and tips tailored to your company and grants to purchase safety equipment. Please also consider investing some of those rebate dollars in the safety of your workforce.

BWC tells me their goal is to become a world-class workers’ compensation carrier. They’re making impressive progress that I think we all can appreciate. Efficient operations, billions returned to Ohio employers, and effective safety programs are a winning combination for Warren County and the entire state.