The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors recently marked its two-year anniversary and detailed significant progress made in the past 24 months.
The board was created in House Bill 100 of the 127th General Assembly and serves as BWC’s governing body. Members share fiduciary responsibilities with BWC Administrator Marsha Ryan.
“In just two years, BWC and our board of directors have made great strides in making Ohio’s workers’ compensation system more insurance-like,” said Administrator Ryan. “The many accomplishments over a relatively short period of time reflect the hard work and integrity of each board member, and their commitment to Ohio’s injured workers and employers.”
Ryan added, “Within its first months, the Board took on the issue of establishing fair and stable rates for all employers. In the two years since addressing this difficult and often contentious subject, the rates between group-rated and non group-rated employers have leveled off significantly, easing the cost of doing business for tens-of-thousands of employers.”
In addition to its focused efforts toward equitable premiums for every Ohio employer, other accomplishments by the Board of Directors include:
- Back-to-back rate decreases for private employers: 5 percent in 2008, the first rate decrease for this group since 2001, and 12 percent in 2009;
- Reducing the maximum discount to 77 percent,
- Two rate decreases for state agencies, universities and university hospitals, 10 percent in 2008, their first rate decrease since 1999, and a 3.75 percent reduction in 2009;
- A 5-percent premium rate decrease for public employers, including cities, townships, villages, schools and special districts;
- An average 25.3-percent rate decrease for private, non group employers;
- Created two, new insurance options (deductible and group retrospective) designed to lower out-of-pocket cost for employers and improved safety for workers;
- Updated fee schedules for physicians and other medical professionals who provide care for injured workers;
- Eliminated redundancies in the alternative dispute resolution process in order to ensure timely and quality care for injured workers;
- Adoption of a monthly Enterprise Report which provides a transparent record of agency-wide financial and operational performance metrics;
- Developed new investment policy statement to strengthen investment returns; and
- Adopted implementation strategy for diversifying State Insurance Fund fixed-income and equity investments.
BWC Chief Operating Officer Ray Mazzotta has the board with the agency’s primary goals for Fiscal Year 2010. These initiatives focus on the agency’s continued efforts to reach operational excellence by ensuring stable costs, better services, accurate rates and safe workplaces. Internal initiatives will focus on continued operational cost savings and staff development.
Source: Ohio BWC
Was this article valuable?
Here are more articles you may enjoy.