The Ohio Bureau of Workers’ Compensation Board of Directors has approved a proposed reduction in average rates for public employer taxing districts by 5 percent.
This marks the fourth consecutive year in which public employer rates have been reduced by at least 5 percent.
Average rates, based on an employers’ payroll, have not been this low since at least 1983, the BWC reported.
The reduction is projected to lower combined premiums by an estimated $12.7 million for Ohio’s 3,900 cities, counties, townships, villages, schools and special districts, beginning January 1, 2013.
Combined with last year’s 5 percent rate reduction, Ohio’s public employers will experience an estimated two year savings of approximately $40 million, when compared to 2011 rate levels.
The overall average decrease of five percent will result in base rate reductions, based upon recent and projected experience, for 12 of the 14 public employer types, known as manual classifications.
This decrease includes some classifications in which base rates will decrease even more than the average statewide level. For example, counties’ base rate will decrease by 7.1 percent, and the base rates for public libraries, joint vocational schools and special public universities will all decline by 15.7 percent.
Actual premium changes for individual public entities will differ based on several factors including their own recent claims history and program participation.
Source: Ohio BWC