On August 13, Gov. John Kasich announced plans to rebate Ohio employers $1 billion in workers' compensation premiums. This rebate, which is still pending approval by the Ohio Bureau of Workers' Compensation (BWC), follows the 2013 $1 billion rebate and $1.2 million credit issued to employers using the prospective billing system. According to BWC Administrator Steve Buehrer, this rebate was made possible by a nine percent investment return in the bureau's portfolio.
If approved in the August BWC board meeting, rebate checks will go out in October. Employers can expect these payments to equal about 60 percent of the annual premium from the previous policy year. In addition to this rebate, the BWC also plans to invest more in safety initiatives and trainings that aim to reduce workplace injuries.