The Bureau of Workers' Compensation (BWC) Board of Directions recently approved a 3.9% rate reduction for Ohio’s public employers. As a result, public employers will pay nearly $8 million less in premiums beginning January 1, 2024.
The BWC stated that the reduction is possible because of declining injury claims and relatively low medical inflation costs by Ohio's counties, cities, public schools, and other public taxing districts.
"We are always looking for ways to save Ohio's employers money," Administrator John Logue said in a statement. "Thanks to organizations' improvements in workplace safety, we are able to continue dropping rates for both private and public employers."
The reduction improves on Ohio’s historically low rates which are at their lowest in over 60 years. To learn more about this news, check out the article written on the topic in the August 24, 2023 Gongwer Ohio Report.