BWC proposes $1.6 Billion Dividend for Ohio EmployersGovernor DeWine announced yesterday that the Ohio Bureau of Workers’ Compensation will be issuing $1.6B in premium dividends to employers in Ohio. Private employers will see $1.4B returned and public entities will share in $200M.
The BWC is estimating this will amount to a return of roughly 100% of premiums paid for the 7/1/18 to 6/30/19 policy year.
The dividend will be presented to the BWC’s Board at an emergency meeting this Friday, April 10 for final approval. If approved, the BWC plans to send premium refunds out at the end of April.
Any approved refunds would be applied to any outstanding balances (including premium deferments recently taken due to the pandemic). Also, for the first time, employers participating in Group Retro programs will not have to wait for their refund to be calculated in October.
We will continue to keep you updated on this refund as we learn more.
by: Lauri Cochran