Saturday, January 26, 2019
COLUMBUS
Ohio Bureau of Workers’ Compensation has proposed a 20-percent reduction in the average premium rate it charges private employers – its largest rate cut in nearly 60 years if approved by the agency’s board of directors.
If approved by the board at its Feb. 22 meeting, the rate reduction would be effective July 1 and save private employers $244 million over premiums for fiscal year 2019.
The proposed cut would follow a 12 percent reduction last year and a pattern of no increases since 2006. It would also follow a 12 percent rate reduction for public employers – counties, cities, schools and others – that went into effect Jan. 1.