On Friday April 10, 2020 the Ohio Bureau of Workers’ Compensation (BWC) Board of Directors approved Gov. Mike DeWine’s plan to distribute $1.6 billion to state business in light of the current economic downturn related to the COVID-19 pandemic. The agreed amount is roughly equal to premiums paid by Ohio employers for the 2018 policy year.
The dividends will be distributed with approximately $1.4 billion going to private employers and the remaining $200 million going to local governments including cities, townships and schools. Dividends received will be less any outstanding balances owed. Checks will be mailed out in batches to employers beginning later this month.
BWC administrator and CEO Stephanie McCloud credits Ohio employers’ efforts to increase workplace safety, reduce injury claims and timely payment of premiums along with strong investment returns for the BWC’s ability to provide dividends and some relief to Ohio employers during these difficult times. In another example of the BWC’s commitment to helping employers impacted by COVID-19, the BWC recently announced it will automatically defer employer premium payments until June 1 without the need for application. The BWC also automatically applied premium discounts and waived or postponed certain requirements for programs that reduce employer premiums to further assist employers.
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