Ohio’s governor wants the state to lower the premiums employers pay for workers’ compensation by 4 percent for a total cut of about $65 million a year.
Gov. John Kasich’s office says the goal is to reduce the cost of doing business in Ohio and make the state more competitive. His proposal was submitted on April 28 to the board of the state Bureau of Workers Compensation. If adopted in May, employers would first see premium changes in February.
Rates for a specific business are determined by the industry it’s in and its claims history. BWC Administrator and Chief Executive Steve Buehrer says a goal is to reduce costs for all employers in the state.
The state says that among factors in the decision to lower rates are a trend of decreasing claims frequency and positive investment returns.
Topics Workers' Compensation Ohio
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