The Ohio Bureau of Workers’ Compensation Board of Directors, under the Audit Subcommittee, has set forth the dividend proposal for all state fund employers. The Bureau will be paying 88% of 2017 policy year premiums to employers. Dividends will be issued according to the following: July 1, 2017 through June 30, 2018, policy period for private employers, and January 1, 2017 through December 31, 2017, for public employers, subject to several provisions. While not all encompassing, a few of those provisions are listed below:
- Employers must have active, reinstated, combined, or DIP status as of September 6, 2019.
- The employer must have completed their true-up for the 2017 policy year by the 9/6/19 snapshot.
- Checks will go out some time in September for employers that are not in group retro programs. Group retro employers will receive their checks after the retro adjustment has been made in late October / early November.
- Any employer who cancels coverage prior to September 6, 2019 will not be eligible for the dividend.
- Employers that paid premiums in 2017 but were granted self-insurance will be eligible for the dividend.
- Any employer who has an outstanding balance will have its dividend payment reduced by the amount of the outstanding balance.
If you have questions regarding this topic, please contact any of the listed attorneys.