Ohio Bureau of Workers & # 39; Compensation announced on Monday that public employers' premium rates will be reduced by 10% collectively, starting January 1, 2022.
This reduction will result in nearly $ 17 million in reduced costs for public employers together next year. The 10% reduction corresponds to an average in the whole country. The actual premium change for an individual government entity will differ depending on several factors that the Ohio BWC notes, including employer type or classification, salary levels, recent injury history, and their participation in various BWC programs.
BWC credits a 10% tax cut to declining claims and relatively low medical inflation costs from Ohio counties, cities, public schools, and other public tax districts.
"I am proud of our state's public employer," Stephanie McCloud, Administrator, CEO of BWC, said in a statement. "The efforts they make to keep their workplace safe are what enable us to constantly lower interest rates."
This is the 13th rate cut for Ohio's public employers since 2009, according to the BWC.