Ohio Governor Mike DeWine requested that the Board of the Bureau of Workers & # 39; Compensation extend a 2020 dividend to approximately 3,000 employers who did not meet the eligibility requirements last year.
"The requested expansion would allow about $ 30 million to go to the previously unjustified employers who, without their own fault, could not perform their & # 39; & # 39; real-up & # 39; & # 39; 2019 within the time frame for the dividend yield, says BWC in a statement.
The true process requires employers to report actual wages at the end of the insurance year to ensure the accuracy of premiums based on estimated wages. BWC 2020 approved a $ 5 billion dividend for approximately 1
Gov. DeWine said in a statement that increased eligibility for dividends is the right thing to do to keep companies open and the state is in the fortunate position of being able to repay more money to policyholders.
BWC said it will communicate directly with eligible employers. if its board approves the expansion. The agency first applies the dividend to an employer's unpaid premium balance and then sends a check on the balance.