Workers Compensation and Unemployment
The Ohio Bureau of Workers’ Compensation (BWC) launched a rate-reform initiative in 2007 to bring insurance best practices to BWC’s programs and the rates employers pay. The result? The initiative has reduced rates and issued rebates, credits and grants, resulting in $4.8 billion in combined savings for Ohio’s public and private employers over the last five years.
Other significant reform results:
- Introduced the Grow Ohio program, which helps new businesses by offering discounts during their startup. The program has saved businesses more than $25 million. Businesses have the option of taking a 25% discount for their first two years, or joining the group rating program immediately, saving up to 53% off their premium.
- Created Destination: Excellence, a new program that rewards employers for their efforts to create safer work places and to transition injured workers back into their job. More than half of all Ohio employers are taking part in at least one aspect of the program, helping the business community save more than $38 million since 2012.
- Unveiled the new Wellness Grant Program to help employers meet the challenges related to rising incidences of obesity and chronic disease, as well as an aging workforce—all factors that contribute to workplace injuries and slow the recovery of injured workers.
- Expanded the safety council rebate program
- Non-group rated employers are now eligible for both a 2-percent discount for participating in Safety Council programs, and both group and non-group employers are eligible for a 2-percent rebate for demonstrating improvements to employee safety.
- Increased funding that supports Ohio’s 83 safety councils by 10 percent.