Update on BWC’s proposed workers’ compensation rate reductions

State agencies and public universities will see another 7.8% rate cut from the Ohio Bureau of Workers’ Compensation thanks to the Board of Directors vote on Friday, February 2, 2018. The reduction – agencies and universities/hospitals’ sixth in as many years – follows the Actuarial Committee recommendation for a 12% decrease in private employer premiums that goes before the BWC board during its next regular meeting, scheduled for February 23, 2018. The cut to state agencies’ pay-as-you-go program is expected to yield total premiums of $37.4 million in the next fiscal year.