Bureau of Workers Compensation to send up to $1.6 billion dollars in dividends to Ohio employers

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COLUMBUS (WCMH) — Ohio Governor Mike DeWine announced he has asked the board to approve a measure that will allow the Bureau of Ohio Workers Compensation (BWC) to send up to $1.6 billion in dividends to Ohio employers by the end of the spring. He said this will help ease the impact that COVID-19 has had on Ohio’s economy and business community.

“We know that this will help,” DeWine said. “For those employers, it means one less bill to worry about.”

DeWine said this dividend equals a 100 percent of the premiums employers paid in policy year 2018. BWC will apply the dividend to employers outstanding balances first, including recent installment deferrals. Any amounts exceeding outstanding balances will be sent to the employer.

“Even with the downturn in the market, BWC is able to provide this important dividend to employers while maintaining funds to take care of injured workers for years to come,” DeWine said.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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