The Ohio Bureau of Workers’ Compensation (BWC), along with Governor John Kasich, has proposed yet another one-time rebate that will return some $1.5 billion to Ohio employers. This would represent the largest rebate in two decades.
Private employers and public employer taxing districts that pay into the State Insurance Fund are eligible for the rebate, and in most situations the individual rebate itself would equate to 85% of the premiums paid for the policy year ending on June 30, 2017. For public employers, the rebate would be based off the 2016 policy year. To be eligible, an employer must have been billed premium for the above respective policy year and be current in meeting their policy requirements.
If approved, the BWC would begin mailing rebate checks in July. Private employers in the Group-Retrospective Rating Program would receive their checks in the fall. If an employer reports through a Professional Employer Organization, they will receive their rebate though that PEO. In the event an employer has an outstanding balance with the BWC, the rebate will apply to that balance first.
The BWC indicates that the rebate is possible as a result of “prudent fiscal management, strong investments and falling claim numbers.” If approved, this will be the fourth rebate provided to Ohio employers by the Bureau.
The proposed rebate will be voted on at the BWC’s Board of Directors meeting on May 24, 2018.
Please direct questions related to the subject matter of this alert, or workers’ compensation in general, to any of the listed Roetzel attorneys.
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