Public workers' comp premiums in Ohio likely to be slashed again

COLUMBUS, Ohio—Workers’ compensation premium rates paid by public employers in Ohio would drop an average of 10 percent next year, under a proposal discussed Thursday by the Ohio Bureau of Workers’ Compensation.

The proposed rate reductions, which would save Ohio’s 3,700 school district and local governments a total of $17.8 million, would be the 11th such reduction the BWC has made since 2009, according to a BWC release.

The rate cut will likely be approved during the BWC board’s Aug. 23 meeting.

Chris Carlson, the BWC’s chief actuarial officer, said in a release that the reduction was made possible by a number of factors, including declining claims and comparatively low medical inflation costs.

Read more: https://www.cleveland.com/open/2019/07/public-workers-comp-premiums-in-ohio-likely-to-be-slashed-again.html