NFIB/Ohio Applauds BWC Rate Cuts For Private Employers

Date: March 17, 2016

At the monthly Ohio Bureau of Workers’ Compensation meeting further rate reductions were passed that will benefit private employers across the state.  The current administration at the Ohio BWC has been focused on improving safety, while also continually lowering costs for state fund employers. Their sound fiscal management and investment policies have also contributed to these additional rate cuts.

“The current
administration of the Ohio Bureau of Workers’ Compensation continues to be very
responsive to the business community.  We
have witnessed a real focus on the impact BWC has on small-businesses.  Ohio entrepreneurs appreciate the additional 8.6%
base rate cut for private employers, the fourth such reduction in the past five
years, leading us to historically low base rates,” said Roger R. Geiger, vice
president and executive director of NFIB/Ohio.

“A further reduction
in BWC’s Administrative Cost Fund rates to 11.54% reflects their commitment to
sound fiscal management of employer dollars. We know that small-business owners
will use these savings to reinvest in their businesses by hiring new employees,
purchasing equipment and investing in workplace safety,” he continued.

For questions regarding workers’ compensation in Ohio, please contact Jared Weiser, NFIB/Ohio member benefits program manager at 614-221-4107 or at jared.weiser@nfib.org. Looking to save money on your workers’ comp costs? You can get a free, no cost, no obligation quote today for the NFIB/Ohio group rating program.

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