The Ohio Bureau of Workers’ Compensation (BWC) has approved the distribution of $1 billion in cash rebates to 210,000 Ohio employers. The BWC board approved a 2.1% average reduction in base rates for private employers that will account for an aggregate savings of $29 million for the policy period July 1, 2013 through June 20, 2014. The rebate amounts will be calculated on the below points as well as other eligibility requirements.
Additional information about the $1 billion rebate includes:
- The mailing of rebate checks is estimated for late June and July 2013.
- The rebate will be 56% of the gross premium paid for the 2011 policy period that covered July 1, 2011 through June 30, 2012 for private employers, and January 1, 2011 through December 31, 2011 for public employers.
- Employers who canceled coverage prior to April 1, 2013 will not be eligible for the rebate.
- Employers granted self-insurance before April 1, 2013 who paid a premium in the 2011 policy year will be eligible for the rebate based on their billed premiums during the 2011 policy year.
- Rebates will be treated as a one-time payment. No adjustments will be made to the rebate amount for any reason.
If you have any questions regarding the OH BWC rebates, here is a link to an informative article: https://www.ohiobwc.com/home/current/releases/2013/050213.asp.