The Bureau of Workers Compensation is proposing a $1 billion dividend for private employers and public-taxing districts paying into Ohio’s workers’ compensation system. Under the proposed dividend, more than 210,000 Ohio private employers and public-taxing districts would receive approximately 56% of their annual premium in the July 1, 2011 to June 30, 2012 policy period. BWC may present the dividend proposal to its Board of Directors as soon as May. If approved by the Board of Directors in May, dividend checks could be mailed as early as June.
This proposal also expands the agency’s successful Safety Grant Program from $5 million to $15 million to support expanded statewide efforts to promote workplace safety and encourage further investment in protecting Ohio’s workers asks the Legislature to modernize the premium collection model by authorizing BWC to move toward a prospective-payment system and subsequently requesting the board issue an additional $900 million to mitigate transition costs. This switch would result in rate reductions of 2 percent for private employers and 4 percent for public employers. For more information, please view this fact sheet.