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Chairman Lampton, House Insurance Committee Pass Ohio BWC Budget

March 22, 2023
Brian E. Lampton News

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COLUMBUS – State Representative Brian Lampton (R-Beavercreek) today announced that the Ohio House Insurance Committee has approved the FY 24-25 Bureau of Workers’ Compensation (BWC) budget, which contains appropriations of $755.7 million over the biennium. 

BWC provides workers' compensation insurance to all public and private employers except for those who qualify for self-insurance. BWC covered nearly 257,000 Ohio employers in FY 22 and paid about $1.3 billion on over 80,000 claims.

“This budget will be a huge success for BWC,” Lampton said. “I want to commend them on their progress in lowering rates and commitment to helping employees across the state.”

The House Insurance Committee, of which Lampton serves as Chair, heard testimony on this budget and saw it through the committee process. 

The BWC budget includes $35 million in each fiscal year for Safety Grants. Other key provisions include:

  • State Fund Employer Administrative Costs: Requires the Director of BWC to account for the BWC’s, Board of Directors, and Industrial Commission’s administrative costs when calculating the workers’ compensation premium rates for a state fund employer.
  • Premium Payment Security Fund: Eliminates the Premium Payment Security Fund. Under the bill, the Director covers premium defaults with money from the State Insurance Fund (SIF).