Ohio Bureau of Workers' Compensation Proposes Rate Cuts For Private Employers by 10.8 Percent. By Lonce LaMon from Press Release - January 27, 2015
The Ohio Bureau of Workers’ Compensation has proposed cutting rates for private employers by 10.8 percent.
Administrator Steve Buehrer announced the move January 22nd during a committee hearing in Columbus. The reduction would take effect on July 1st pending final approval, and would save employers about $153 million in premium costs annually. The Bureau of Workers' Compensation board is expected to take up the issue at its meeting in late February.
BWC attributed the rate cut to lower claims and a revamped billing system.
“The ability of employers to expand and create jobs is directly tied to a number of factors, including the cost of their workers compensation coverage,” Steve Buehrer said in a released statement. “That’s why low and stable rates have been one of our highest ongoing priorities. This 21.4 percent reduction over the past five years, combined with strong safety programs that reduce claims by supporting accident prevention and a healthy workforce, is creating more flexibility for employers to invest in their operations and work force.”
The rate reduction comes on top of earlier-announced credits totaling $1.2 billion to private employers and local governments.
Adjuster / Examiner Claims Examiner Santa Ana Unified School District Santa Ana, CA
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