Another Billion Back

With strong returns on investments, the Ohio Bureau of Workers’ Compensation is proposing a second $1 billion rebate to the 200,000-plus employers who pay premiums into the system for injured workers.

This week Governor John R. Kasich and Ohio Bureau of Workers’ Compensation (BWC) Administrator/CEO Steve Buehrer announced a $1 billion rebate to Ohio’s private and public sector workers’ compensation customers.  Governor Kasich has coined it “Another Billion Back”, which comes on the heels of last year’s $1 billion rebate for workers’ comp customers.

The rebates are possible because the BWC’s investment portfolio is showing a return on investment of 8.9% over the last three years, including 13.3% for the first six months of 2014.

If approved by the BWC Board of Directors, eligible employers will receive a rebate equal to 60 percent of premiums paid during the July 1, 2012 through June 30, 2013 policy year.  The proposal will be presented to the board at its August meeting, and if approved in its September meeting, BWC could begin issuing checks as early as October.

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