BWC Approves 1% Rate Cut for Private Employers

The Ohio Bureau of Workers' Compensation board of directors on Friday approved a 1% rate cut for private employers, effective July 1. Employers will pay about $10 million less in workers' compensation premiums as a result of the latest reduction, the bureau said. Overall, rates are down a cumulative 50% since 2019 and 70% since 2011. The average rates are at their lowest in more than 65 years, the agency said. The proposed 1% rate cut represents an average statewide premium change, including administrative costs. The actual premium paid by individual private employers depends o...