Ohio BWC approves another rate reduction for employers

COLUMBUS — The Ohio Bureau of Workers’ Compensation board today approved an 8.6 percent rate cut for private employers, continuing a series of rate decreases in recent years.

The change will take effect in July and is expected to save employers about $113 million in premium costs annually, according to the agency.

“As a result of the board’s actions, Ohio private employers will be paying a $463 million less annually than they were at the beginning of 2011, representing a combined 28.2 percent decrease,” Steve Buehrer, the bureau’s administrator and chief executive officer, said in a released statement.

“The reduction announced [Thursday] will add to the $4.3 billion in rate cuts, rebates and credits Ohio’s employers have realized over the past five years.”

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