Governor Kasich announced Wednesday that the Ohio Bureau of Workers’ Compensation (BWC) Net Asset Fund should return an additional $1 billion to Ohio employers as a premium rebate. The rebate will be based on the premiums paid by private and public employers during their 2012 policy year, equal to 60 percent of their premiums.
If the voting timeline is kept, Ohio employers could receive a second round of premium rebate checks as early as October.
Governor Kasich also revealed that the Ohio BWC will invest in the extension, expansion and research of various existing safety programs to assist Ohio businesses with the prevention of workplace injuries.
Editor’s Note (August 26, 2014):
Urgent: An employer with a lapsed status on September 5, 2014 will NOT be eligible for the premium rebate. Employers must be in an active, reinstated, combined or debtor-in-possession status effective September 5, 2014.