Ohio's cities, townships, public school districts and other public employers are in line for another cut in their workers' compensation premiums.
The Ohio Bureau of Workers' Compensation said it will cut rates 10% effective Jan. 1, saving them $17 million in premiums in 2022. It will be the 13th rate cut for public employers since 2009.
Private employers covered by the state fund for injured workers have had similar cuts, including a 7.1% cut for the fiscal year that began July 1 that will save them $71.5 million over the prior year. Rates for the state's 248,000 private employers covered by the fund have been cut by more than half over the past decade.
Also, public and private employers have received billions in dividends over the years, including a $5 billion dividend last fall to help them deal with the fallout from COVID-19.
As is the case with previous cuts, the bureau said the drop is possible because of declining injury claims and relatively low medical inflation costs for Ohio's counties, cities, public schools and other government bodies.
The reduction represents a statewide average.
How much premiums change for an individual employer will depend on multiple factors, including the type of work it does, payroll levels, recent claims history and participation in bureau programs.
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Author: Mark Williams