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Economy

Ohio's Workers' Comp Bureau Plans a $1.5 Billion Rebate

A photo of workers' comp headquarters in Columbus
DAN KONIK
/
STATEHOUSE NEWS BUREAU
The Bureau of Worker's Compensation says its investment strategy is paying off.

Employers could be getting a big rebate if the Board of Directors for the Ohio Bureau of Workers’ Compensation approves it.

Workers' Comp Administrator Sarah Morrison says the agency’s investment strategy is paying off. So she will ask the board to give $1.5 billion in premium rebates to employers this summer.

“If our board approves this rebate, the Bureau of Workers’ Compensation will have saved Ohio employers $8 billion in worker’s compensation costs since 2011 through our rebates, reduction in premium and grant dollars," Morrison said.

The rebate plan, which is expected to win approval from the board, will also allow an estimated $48 million to go to schools and $111 million to local governments.