Ohio Private Employers Receive 10% Rate Cut on Workers’ Compensation Premiums

Ohio Private Employers Receive 10% Rate Cut on Workers’ Compensation Premiums

WHACC is happy to share this article from the Ohio Bureau of Workers’ Compensation.

Ohio Governor Mike DeWine and Ohio Bureau of Workers’ Compensation Administrator Stephanie McCloud announced at the Feb. board meeting that Ohio’s private employers will pay nearly $106 million less in workers’ compensation premiums in the next fiscal year due to a 10% rate reduction approved by the BWC Board of Directors.

This marks the fourth straight reduction since Governor DeWine took office in 2019. This rate reduction becomes effective July 1 and follows a 10% rate reduction for public employers – counties, cities, schools, and others – that went into effect Jan. 1.

In a quote from an NFIB article, McCloud said, “We are at a 40-year low for average rate levels for Ohio employers, bolstering Ohio’s already strong business climate. I am thrilled we get to continue to cut rates for both private and public employers.”

A history of BWC rate changes since 2011 can be found online by clicking this link.

About WHACC Publisher

The Warrensville Heights Area Chamber of Commerce works to promote, enhance, and foster the growth of business in the area communities of Highland Hills, North Randall and Warrensville Heights, Ohio. Visit whacc.org to subscribe, get involved, or join. Do you have news, updates, or opportunities you would like to share? We’re looking to our members to submit world-class content for our print newsletters, email newsletters, and social media channels. Please submit your business articles, tips, and resources to news@whacc.org